Vertical Bridge Acquires CiG Wireless

CiG Wireless announced the signing of a definitive agreement to be acquired by an affiliate of Vertical Bridge Holdings. Vertical Bridge will acquire CiG Wireless’ tower assets, including 200 tower sites. The all cash deal is valued at approximately $143 million. “This transaction brings together two complementary cellular tower operators, and the combined business will have a broad geographic presence across the United States,” said Paul McGinn, Chief Executive Officer of the Company. The deal, which is expected to close during the second quarter of 2015, has received the support of the Company’s largest shareholder, Fir Tree Partners, a New York based private investment firm, who has voted its shares in favor of the transaction. The transaction is subject to customary closing conditions, including among others, filings with the U.S. Securities and Exchange Commission. “We have known Paul and the rest of the CiG Wireless team as competitors and partners over the course of many years, and we look forward to them joining our team,” said Alexander L. Gellman, CEO and Co-Founder of Vertical Bridge. Upon closing, the Company’s current employees will become employees of affiliates of Vertical Bridge Holdings, LLC.