Wireless Industry News » CTI Enters Agreement for 120 Towers From Vyve Broadband
Deal expands the company’s coverage into Oklahoma, Kansas, Arkansas, and Wyoming in its largest single tower transaction.
FRANKLIN, Mass., Nov. 19, 2015 -- CTI Towers, Inc., a wireless tower operating company in which Comcast Ventures is majority owner, today announced that it has acquired 120 communication towers from Vyve Broadband. The deal, expected to close by year-end, will be CTI’s fourth and largest single tower acquisition since selling its prior tower portfolio to InSite Wireless in April of this year.
Tenants include the four national wireless carriers, Verizon, AT&T, T-Mobile, and Sprint, as well as broadcasters, utility companies and governmental entities.
"Over the past year, we have worked closely with the Vyve team lending support to their tower leasing efforts," said Tony Peduto, CEO of CTI Towers. "CTI understands the priorities of cable television companies so this agreement was structured to minimize any potential disruption to Vyve's operations. We are excited to extend our national footprint and look forward to reaching out to all of the carriers and service providers in our new markets."
“CTI’s rapid growth shows their knowledge of the US tower market and unparalleled ability to execute quickly,” said David Zilberman, Managing Director at Comcast Ventures. “We’re exited for the company's strong and growing portfolio.”
“We are extremely pleased with how this deal came together and consider it a win for both sides,” said Jeffrey S. DeMond, CEO of Vyve Broadband. “Being able to sell our towers while also being able to have continued use proved to be the perfect combination. CTI has been a great partner throughout this entire process, and we look forward to continuing our relationship with them.”
About CTI Towers Inc.
CTI Towers, Inc. owns, operates, and maintains wireless towers throughout the United States. The Company leases tower space to wireless carriers, broadcasters, municipalities, utility companies, and others. CTI Towers works with its customers to meet the critical deadlines for network deployment and new cell sites and allows its customers to control much of the process to facilitate the deployment of their networks. For more information, visit http://www.ctitowers.com. CTI Towers’ lead investor Comcast Ventures, the venture capital affiliate of Comcast Corporation, focuses on innovative businesses that that will change the way people live, work and interact.