Freshwave, a DigitalBridge Group (NYSE: DBRG) portfolio company based in London, announced it has secured a committed credit facility of up to $127 million from Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. This funding builds on the investment made to date by DigitalBridge.
With its connectivity infrastructure-as-a-service offering, Freshwave provides indoor connectivity via small cells, distributed antenna systems and WiFi to thousands of buildings across the U.K. Customer facilities include skyscrapers, stadiums, acute care hospitals, and central and local government buildings. Working closely with the U.K. mobile network operators, Freshwave also supports hundreds of outdoor mobile network sites and builds towers on their behalf.
As an early proponent of the neutral host business model, Freshwave has been instrumental in developing the multi-operator “enterprise pays” approach to indoor mobile connectivity, enabling this essential technology to be deployed in many more buildings.
Freshwave sees an addressable digital infrastructure market growing at over 20 percent CAGR for the next several years. The company says this new credit facility allows it to maximize this market opportunity and continue to deliver connectivity and innovative products to its growing roster of blue-chip customers.
“Edge connectivity is key to enabling edge computing and artificial intelligence applications which will transform how organizations operate,” comments Simon Frumkin, Freshwave CEO. “This credit facility will help fund Freshwave’s continued expansion and reflects confidence in both the strength of our business and the neutral host model as a catalyst for faster growth in the digital infrastructure market.”
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