Mobilitie Raises $1.1 Billion in Portfolio Sale to Fuel New Wireless Infrastructure

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Mobilitie, LLC (www.mobilitie.com) announced it has raised $1.1 billion in capital through a sale of over 2,300 United States and LATAM tower and DAS sites to SBA Communications Corporation (“SBAC”). The transaction, subject to customary closing conditions, is expected to close in April 2012.

“SBAC is a terrific firm and we are proud to have come to terms. What differentiates SBAC from other public tower companies is their reputation with the National Wireless Carriers. They are 'the' preferred infrastructure owner for the Big 4 and that reputation accelerates their ability to collocate the assets”

“SBAC is a terrific firm and we are proud to have come to terms. What differentiates SBAC from other public tower companies is their reputation with the National Wireless Carriers. They are 'the' preferred infrastructure owner for the Big 4 and that reputation accelerates their ability to collocate the assets,” said Gary Jabara, Founder and CEO of Mobilitie.

Mobilitie will utilize proceeds from the sale to buy down existing debt and fuel continued growth plans of building and operating wireless infrastructure. “We will continue focusing our ongoing growth across our core business lines, which include the development and leasing of wireless communication towers, and the deployment and operations of Distributed Antenna Systems and Wi-Fi networks at high capacity venues,” said Christos Karmis, President of Mobilitie. “As the wireless industry continues to evolve with exponentially higher data demands, DAS and Wi-Fi networks will become a more critical solution for carriers to offload their macro networks. Mobilitie’s systems are carrier agnostic and scalable to keep pace with the evolution of technology.”

About Mobilitie

Mobilitie was founded in 2005 to enable the wireless carriers to meet their network infrastructure needs through a strategically unique model. Mobilitie has become widely recognized as the industry leader for developing, operating, and leasing communication towers and other infrastructure for wireless communications. Mobilitie is based in Newport Beach, CA. For more information about Mobilitie, please visit www.mobilitie.com.