InSite Wireless Group acquired several distributed antenna systems (DAS) from Capital Tower Group. Terms of the transaction were not announced.
Headquartered in Alexandria, Va., InSite operates more than 1,200 telecom towers and sites around the U.S. as well as 22 DAS and small cell networks, including coverage of the subway systems in Boston and Los Angeles. The company claims to be one of the largest privately owned U.S. tower companies.
Pasadena, Calif.-based Capital Tower Group, meanwhile, is solely focused on design, development and implementation of DAS and small cells.
InSite also announced that Rich Grimes, the CEO and co-founder of Capital Tower Group, would be joining InSite as the company's new chief operating officer of DAS and small cells. Grimes will manage this organization from InSite's new office in Pasadena.
This isn't the first acquisition for InSite. In April, the company acquired 294 towers in a transaction with CTI Towers, a tower company with Comcast as the lead investor.
The small cell and DAS industry is ripe for consolidation. Press reports in January indicated that Extenet Systems, a provider of DAS and small cells, was exploring a sale that could be valued at more than $700 million.
- see this release.
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