SBA Communications announced Wednesday it has launched operations in Brazil and acquired 800 freestanding wireless towers from Telefonica’s Vivo SA division, one of the leading broadband wireless carriers in Brazil.
The Boca Raton-based company, which leases antenna space to carriers, said it paid 362.8 million reais (about $178 million), using cash on hand and debt from the company’s revolving credit line. The acquisition is expected to add 19 million to 23 million reais in tower cash flow in 2013, the company said in a press release.
“This acquisition provides us with a national footprint of high quality towers, including leasing arrangements with all of the major broadband wireless providers, and establishes us as a substantial independent tower owner in an attractive and high growth market," said Jeffrey A. Stoops, SBA’s president and chief executive.
SBA is a provider, owner and operator of wireless communications infrastructure in North, South and Central America. SBA, the third-largest publicly traded cellular tower company, like other tower companies, has been on an acquisition spree recently.