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MarketScreener Homepage  >  Equities  >  Nasdaq  >  SBA Communications Corporation    SBAC

SBA COMMUNICATIONS CORPORATION

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SBA Communications Corporation : ExteNet Systems Expands Its Presence in Key Markets by Acquiring DAS Assets from SBA Communications

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10/25/2012 | 07:05am EDT

DAS Networks in Manhattan, Chicago, Auburn and Las Vegas Augment ExteNet's Growth Strategy

ExteNet Systems, Inc., a leader and innovator in the implementation and operation of distributed networks, today announced the purchase of multiple Distributed Antenna System (DAS) assets from SBA Communications Corporation (NASDAQ: SBAC), an investor in the company.

These DAS networks, which SBA Communications acquired in April 2012 from Mobilitie, LLC, include extensive outdoor DAS networks in Manhattan and Chicago, marquee indoor DAS networks in Las Vegas, and a DAS network at Auburn University.

Ross W. Manire, President and CEO of ExteNet Systems stated, "We are thrilled to add these distributed networks to our portfolio, extending ExteNet's footprint throughout North America. This is a significant milestone in our effort to bring new distributed networks and innovative solutions to our customers."

"We are pleased to conclude this transaction with ExteNet, and believe this addition will further increase the scale and capabilities of the company," said Jeffrey A. Stoops, President and CEO of SBA. "As a significant investor in ExteNet, we are committed to help the company grow its core competency in the ownership of DAS and in-building infrastructure, and we are excited to continue to support ExteNet in what we believe is a fast-growing segment of the wireless network ecosystem."

The acquisition of outdoor and indoor networks from SBA Communications is integral to ExteNet's strategy of building a portfolio of reliable and scalable distributed networks in locations that are especially important for the leading North American wireless carriers as they seek to provide superior wireless service for their customers.

ExteNet Systems financed the acquisition in part with a credit facility from a group of lenders including Barclays Private Credit Partners Fund, LP, advised by Barclays Private Credit Partners LLC, and Suntrust Robinson Humphrey, Inc. Reed Smith LLP acted as legal counsel to ExteNet Systems.

About ExteNet Systems

Lisle, IL-based ExteNet Systems, Inc. designs, builds, owns and operates distributed networks in key strategic markets for use by wireless carriers and venue owners. Using distributed antenna systems (DAS), small cell and other technologies, ExteNet networks enhance coverage and capacity and enable superior wireless service in both outdoor and indoor environments. Primary markets addressed by ExteNet include outdoor distributed networks for use by wireless carriers, and a host of indoor verticals, including sports and entertainment venues, commercial real estate, healthcare, higher education, hospitality and government agencies. For more information, visit www.extenetsystems.com.

"ExteNet" is a registered trademark of ExteNet Systems, Inc.

About SBA Communications Corporation

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North and Central America. By "Building Better Wireless," SBA generates revenue from two primary businesses - site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.

ExteNet Systems
Media Inquiries:
Cheryl Isen, +1 425-222-0779
cheryl@isenandcompany.com
or
Analyst Inquiries:
Manish Matta, Director, Marketing, +1 630-505-3846
mmatta@extenetsystems.com
or
SBA Communications
Media Relations
Lynne Hopkins, 561-226-9431
or
Capital Markets
Mark DeRussy, 561-226-9531


© Business Wire 2012
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Managers
NameTitle
Jeffrey A. Stoops President, Chief Executive Officer & Director
Steven E. Bernstein Chairman
Mark R. Ciarfella Executive Vice President-Operations
Brendan Thomas Cavanagh Chief Financial Officer & Executive Vice President
Jorge Grau Chief Information Officer & Senior Vice President