WESTBOROUGH, Mass.-Arch Communications Group Inc. announced it signed a definitive agreement to sell its site management business to Arlington, Va.-based Telecom Towers L.L.C. for $40 million.
Under the agreement, Arch will sell 148 communications towers and tower management contracts which involve some 134 sites in 21 states across the country. The company also will lease space from Telecom Towers where it currently operates communications equipment to service its paging network.
Arch said it decided to sell the business because it did not wish to service networks other than its own. More than 160 third-party tenants are collected on the tower sites.
