American Tower pushes into Canada with InSite deal - Mobile World Live

American Tower pushes into Canada with InSite deal

05 NOV 2020

Communications infrastructure operator American Tower inked a $3.5 billion deal to acquire InSite Wireless Group, bolstering its US presence and expanding into Canada as 5G deployments in both countries take off.

The deal is expected to close by the year end and includes the transfer of 1,400 towers and 70 distributed antenna systems in the US; more than 200 towers in Canada; and property assets spanning 600 plots of land and 400 rooftop sites. American Tower’s website states it has more than 40,000 towers in the US.

CEO Tom Bartlett stated the transaction will enhance its “foundational” US business by adding a “well-run, high-quality, complementary, macro-tower focused portfolio, while also marking our entry into Canada”.

Operators in both countries are rapidly expanding 5G networks: analysts at financial company Raymond James predicted “significant upside” in the tower market as a result in the coming years, highlighting expected increases in activity from T-Mobile US and Dish Network, and mid-band spectrum deployments in the US.

Assets from the deal are expected to generate approximately $150 million in property revenue for American Tower in the first full year following completion.

In Q3 the company generated $1.9 billion in property revenue, up 3.4 per cent year-on-year. Profit of $463 million was 8.4 per cent down and total turnover grew 3 per cent to $1.9 billion.



Diana Goovaerts

Diana is Mobile World Live's US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only...

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