Crown Castle Completes Acquisition of Sunesys

Crown Castle International announced Tuesday that it has completed its previously announced acquisition of Quanta Fiber Networks, Inc. (“Sunesys”).  Crown Castle expects to update its full year 2015 outlook on its third quarter 2015 earnings press release and conference call to reflect the acquisition. The company announced the acquisition on April 30, and agreed to pay $ 1 billion in cash to acquire the company, who owns or has rights to nearly 10,000 miles of fivver in major metropolitan markets across the U.S. CEO Ben Moreland also noted on the July 23 conference call, “Given what we’re seeing from the wireless carriers and the challenges they face with bringing more capacity online in many urban and suburban geographies, we believe the deployment of small cells is a critical tool to improving network quality. Similar to towers, we believe some of the best assets will be those that are secured early on where franchise value will help drive future co-locations, upgrade and expansions. And that is why we’re so excited about the pending acquisition of Sunesys which will bring our fiber footprint to more than 16,000 miles, more than doubling our presences in the U.S., top U.S. metro markets.” This fiber is needed to deploy small cell networks, which Crown Castle has been aggressively pursuing. The company reported that 8% of their site rental revenue came from small cells during the second quarter.