ExteNet Systems, a provider of mobility and fiber connectivity solutions yesterday announced that long-term institutional investor John Hancock Life Insurance Company (U.S.A) is leading a consortium that will acquire approximately 30 percent of the company, joining existing major investors, Digital Colony and Stonepeak Infrastructure Partners.
ExteNet will utilize the capital investment from John Hancock to fund its future growth as it scales for 5G network densification and addresses advanced connectivity needs of its customers including mobile network operators (MNOs), carriers, property owners and enterprises.
“We are pleased to welcome John Hancock to ExteNet’s investor group,” said Marc Ganzi, Executive Chairman of ExteNet. “Communications infrastructure is leading global digital transformation, and we are in the early stages of a decade-plus 5G investment cycle. John Hancock is a perfect partner for ExteNet as we continue to provide best-in-class digital infrastructure solutions for our customer base and lead the transformation to 5G.”
“With our strong track record of providing market-leading, shared digital infrastructure and services for our customers, ExteNet is perfectly positioned to excel in our commitment to deliver tomorrow’s connectivity today,” said Jim Hyde, President and CEO at ExteNet.
ExteNet’s executive management team structure is expected to remain unchanged post-transaction, with Marc Ganzi, President and Chief Executive Officer of Colony Capital, Inc. (NYSE: CLNY) and CEO of Digital Colony, continuing to serve as the Executive Chairman, and Jim Hyde continuing as the President and CEO of the company.
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