M&A Deal Summary

TowerCo. Acquires Sprint Nextel - 3 300 Towers

On July 23, 2008, TowerCo. acquired communications company Sprint Nextel - 3 300 Towers from Sprint for 670M USD

Acquisition Highlights
  • This is TowerCo.’s 1st transaction in the Communications sector.
  • This is TowerCo.’s largest (disclosed) transaction.
  • This is TowerCo.’s 1st transaction in the United States.

M&A Deal Summary
Date 2008-07-23
Target Sprint Nextel - 3 300 Towers
Sector Communications
Buyer(s) TowerCo.
Sellers(s) Sprint
Deal Type Divestiture
Deal Value 670M USD

Target

Sprint Nextel - 3 300 Towers

United States
Sprint Nextel - 3,300 Towers are great towers concentrated in large metropolitan markets throughout the U.S. and to support the company’s CDMA, iDEN and WiMAX networks.

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Buyer(S) 1

Buyer

TowerCo.

Cary, North Carolina, United States
Category Company
Founded 2004
Sector Infrastructure
DESCRIPTION

TowerCo. LLC develops and owns wireless communications towers and leases the towers' capacity to communications service providers. In addition to leasing towers, the company also markets and manages third-party towers for regional carriers.

DEAL STATS #
Overall 1 of 2
Sector (Communications) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2008) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-02 TowerCo - 424 wireless Communications Towers

United States

TowerCo - 424 wireless Communications Towers are located throughout the U.S. and are currently occupied by approximately 1.5 wireless telephony tenants per tower.

Sell $191M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-26 TowerCo - 3 252 Towers

United States

TowerCo - 3,252 Tower sites in 47 states across the U.S. and Puerto Rico.

Sell $1.5B

Seller(S) 1

SELLER

Sprint

Overland Park, Kansas, United States
Category Company
Founded 1899
Sector Communications
Employees36,000
Revenue 33.3B USD (2018)
DESCRIPTION
Building on Sprint's corporate campus in Overland Park, Kansas.
Building on Sprint's corporate campus in Overland Park, Kansas.

Sprint is a provider of wireless and wireline communications services for consumers, businesses and government users. In addition to the Sprint brand, Sprint offers its services through Virgin Mobile USA, Boost Mobile, and Assurance Wireless.

DEAL STATS #
Overall 3 of 4
Sector (Communications) 3 of 4
Type (Divestiture) 2 of 2
Country (United States) 3 of 4
Year (2008) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-13 Northern PCS Services

Waite Park, Minnesota, United States

Northern PCS, based in Waite Park, Minnesota, provides Sprint PCS services in certain small to mid-size markets in Minnesota, North Dakota, Wisconsin and Iowa, serving more than 167,000 direct wireless subscribers and more than 69,000 reseller subscribers in a coverage area of more than 1.8 million people.

Buy $313M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-19 iPCS

Schaumburg, Illinois, United States

iPCS, through its operating subsidiaries, was a Sprint PCS Affiliate of Sprint Nextel Corporation with the exclusive right to sell wireless mobility communications network products and services under the Sprint brand in 81 markets including markets in Illinois, Michigan, Pennsylvania, Indiana, Iowa, Ohio and Tennessee.

Buy $831M
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