04/05/2011, GTP
Transaction to purchase all of Cricket's owned towers
BOCA RATON, FLORIDA - May 4, 2011 - Global Tower Partners ("GTP") and Cricket Communications, Inc. today announced they consummated the initial closing under an Asset Purchase Agreement between the parties to purchase all of Cricket's owned telecommunications towers. Cricket will remain a tenant on all of the towers going forward.
"We have had a long standing partnership with Cricket that we are proud of and this transaction represents another milestone in that relationship," said Marc C. Ganzi, Chief Executive Officer, Global Tower Partners. "We are also very excited about the prospects of growth on this unique set of urban tower assets and the ability to supplement our presence in California, Arizona and Colorado, where many of these towers are located."
"We are pleased to enter into this agreement with Global Tower Partners and to continue our relationship with them," said Colin Holland, Senior Vice President, Engineering and Tech Operations for Cricket.
"These locations will allow us to better serve our customers on the West Coast, especially in the urban core, as they continue to further build out their 4G networks. We are delighted to further strengthen our relationship with Cricket," said Alex Gellman, President and Chief Operating Officer, Global Tower Partners.
Terms of the Transaction remain confidential between the parties.
About Global Tower Partners
Global Tower Partners (www.gtpsites.com), based in Boca Raton, Florida, is one of the leading providers of outsourced antenna site facilities to the wireless communications industry in the United States. GTP's business includes the ownership, development, leasing and management of antenna sites on towers and commercial real estate rooftops. GTP owns or master leases more than 13,000 sites, including 3,800 owned towers throughout the United States. GTP's customers are leading wireless communications providers including AT&T Wireless, T-Mobile, Verizon Wireless, Sprint-Nextel, US Cellular, MetroPCS, Cricket Communications, CellularOne & Clearwire.
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Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and has assets under management totaling nearly $200 billion USD as of September 2009.
