SBA Communications to acquire AAT Communications

SBA Communications to acquire AAT Communications

SBA Communications Corp. has announced their decision to acquire the nation’s fifth largest independent wireless tower owner AAT Communications Corp. AAT is based in Missouri and this deal would be conducted in a cash and stock deal which would be worth around $1 billion.

SBA is aiming to expand their ownership of cell phone towers in the country by acquiring their former rivals. This deal would add about 1,855 owned tower sites and 250 revenue-producing managed sites to SBA’s holdings.

This would expand their base to more than 5,300 towers in the United States and its territories. The agreement would see SBA acquiring all outstanding AAT shares for $634 million in cash and about 17.1 million issued shares of SBA stock.

Jeffrey A. Stoops, SBA’s president and CEO, said in a statement about this acquisition: “We are extremely pleased to have the opportunity to acquire a tower business of the size, scope, and quality of AAT. The transaction provides us with a nationwide and expanded platform to pursue our asset growth strategy of new tower builds and selective acquisitions and allows us to leverage our fixed overhead costs.”