SARASOTA, Fla.-Global Signal Inc. announced it has completed the acquisition of Tower Ventures III L.L.C. for $52 million in cash, plus fees and expenses.
The 97 wireless communications towers are concentrated in Tennessee, Mississippi, Missouri and Arkansas. In all, Global Signal has acquired 214 wireless communications towers for $101.6 million since the start of the year, bringing the total number of towers the company owns and manages to more than 3,200.
“Based on the quality of the deals we have closed and the robust nature of our current acquisition pipeline, we are optimistic about deploying the capital raised in our initial public offering,” said David Grain, Global Signal’s president. The company announced its IPO early last month and is currently trading at $22.20 per share.
