American Tower to Buy Eaton Towers for Almost $2B, Add Africa Tower Sites
American Tower agreed to buy Eaton Towers for $1.85 billion. Eaton owns and operates some 5,500 sites in five African markets. The buyer said Thursday it “expects to accelerate new build activity across the region due to expanded relationships with…
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multiple key tenants.” American Tower already owns more than 170,000 communications sites, the company said. “This transaction will significantly augment our existing footprint in Africa and positions ATC to take even better advantage of the growth opportunity in the region as 4G mobile data technology is deployed to serve millions of Africans over the coming years,” said American Tower CEO Jim Taiclet. Eaton Towers says it's a “leading independent pan-African tower company” with tower sites in Ghana, Uganda, Kenya, Burkina Faso and Niger. The company was founded in 2009.