Cox Enterprises invests in InSite Wireless Group

Telecom Lead America: Cox Communications, a cable and broadband company and a subsidiary
of Cox Enterprises has announced an investment in InSite Wireless Group.

 

Under the
agreement, CCI will contribute approximately 150 of its existing wireless
towers while CEI will make additional cash investment in InSite.

 

The
transaction is scheduled to close May 31, 2012. Wells Fargo Securities,
LLC served as financial advisor to Cox and Dow Lohnes PLLC provided legal
counsel.  InSite was represented by Kirkland & Ellis LLP and Sullivan
& Worcester LLP, with advisory assistance from InSite investor Catalyst
Investors.

 

InSite
Wireless Group is owner, operator and manager of wireless communication tower
site facilities and distributed antenna systems (DAS) across the United
States, Puerto Rico, and the U.S. Virgin Islands.

 

“The
wireless tower industry continues to see significant opportunities for growth,
and InSite’s experienced management team has a successful history of
capitalizing on these opportunities.  Not only do they share our outlook
on growing the business, but they also share similar values and goals with our
other Cox companies. We look forward to working with them in the years to
come,” Jamie Kennedy, vice president of Corporate Development for CEI.

 

He added that
this new partnership will help Cox’s strategy to build growth businesses within
the technology, media and telecommunications sectors.

 

“InSite,
its investors, and its employees are enthusiastic about this new relationship
with Cox. We view this as a unique opportunity not only to add to our current
tower portfolio, but also to continue the strong growth of both our tower and
DAS divisions as we benefit from Cox’s equity investment, as well as their
knowledge and expertise in the communications sector,” said David E.
Weisman, president and CEO of InSite.

 

Earlier, Cox Communications signed a contract to sell its 20
MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs
to Verizon Wireless for $315 million.

 

InSite Wireless completes acquisition of DAS facilities from
Dianet Communications

 

Last year,
InSite wireless acquired the wireless system infrastructure and all customer
license agreements pertaining to the DAS operations at 30 Rockefeller Center in
New York City and at the Atlantic City Convention Center in Atlantic City, NJ.

 

The company
acquired DAS facilities and related assets from Dianet Communications.

 

 

editor@telecomlead.com

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