Communications Sales & Leasing (CS&L) has entered into a definitive agreement to acquire privately-held Tower Cloud for $230 million in cash and stock. The acquisition of Tower Cloud is expected to advance CS&L’s diversification strategy by increasing its exposure to national wireless carriers with long term contractual revenues. It also advances the company’s ability to meet the demands of customers across towers, small cells, data centers and fiber assets.
Tower Cloud is a leading provider of data transport services, with a particular focus on providing infrastructure solutions to the wireless and enterprise sectors, including fiber-to-the-tower backhaul, small cell networks, and dark fiber deployments. Tower Cloud’s fiber network currently consists of 90,000 fiber strand miles in service across the southeastern United States, with 181,000 fiber strand miles awarded for future deployment for major wireless carriers.
Early this year, CS&L acquired competitive fiber provider PEG Bandwidth for $409 million, marking its first publicly announced deal as a real estate investment trust (REIT) company. CS&L is a spinoff from
Kenny Gunderman, President and Chief Executive Officer of CS&L
We continue to grow our wireless carrier relationships across all asset classes and are seeing an increasing number of opportunities arise as carriers densify their networks and look toward the deployment of 5G and related technologies.
