This morning, InSite Wireless Group announced that it has acquired 294 communication tower sites from CTI Towers, Inc., a company in which Comcast Ventures is majority owner. The purchase includes communication towers, related tower site equipment and infrastructure, related real property interests, and wireless carrier and customer agreements related to the towers. “InSite, its investors, and its employees are enthusiastic about closing this transaction with CTI Towers, Inc.,” said David E. Weisman, President and CEO of InSite. “We view this acquisition as an important addition to our current tower portfolio and as clear evidence of our investors’ ongoing commitment to grow InSite’s platform of wireless infrastructure assets.” This transaction will increase InSite’s portfolio of sites to more than 1,200.
“In the four years since launching CTI Towers, we have constructed an outstanding tower portfolio and are very pleased with the market reception,” said Tony Peduto, Chief Executive Officer of CTI Towers, Inc. “We believe InSite’s management of these assets will continue to nurture and provide the same level of operating excellence.”
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