ExteNet Systems, a specialist in the implementation and operation of distributed networks, announced the purchase of multiple distributed antenna system (DAS) assets from SBA Communications Corporation (NASDAQ: SBAC), an investor in the company. The acquired DAS assets, which SBA Communications acquired in April 2012 from Mobilitie, LLC, include extensive outdoor DAS networks in Manhattan and Chicago, marquee indoor DAS networks in Las Vegas, and a DAS network at Auburn University.
ExteNet sayst the acquisition of outdoor and indoor networks from SBA Communications is integral to its strategy of building a portfolio of reliable and scalable distributed networks in locations where leading North American wireless carriers increasingly seek to provide superior wireless service for their customers.
Ross W. Manire, president and CEO of ExteNet Systems comments, "We are thrilled to add these distributed networks to our portfolio, extending ExteNet's footprint throughout North America. This is a significant milestone in our effort to bring new distributed networks and innovative solutions to our customers."
"We are pleased to conclude this transaction with ExteNet, and believe this addition will further increase the scale and capabilities of the company," adds Jeffrey A. Stoops, president and CEO of SBA. "As a significant investor in ExteNet, we are committed to help the company grow its core competency in the ownership of DAS and in-building infrastructure, and we are excited to continue to support ExteNet in what we believe is a fast-growing segment of the wireless network ecosystem."
ExteNet Systems financed the acquisition in part with a credit facility from a group of lenders including Barclays Private Credit Partners Fund, LP, advised by Barclays Private Credit Partners LLC, and Suntrust Robinson Humphrey, Inc. Reed Smith LLP acted as legal counsel to ExteNet Systems.
See also:RFP checklist for in-building DAS