RTTNews | Nov 5, 2020 08:05AM EST

08:05 Thursday, November 5, 2020 (RTTNews.com) - American Tower Corp. (AMT) said it has agreed to acquire InSite Wireless Group, LLC for a total consideration of about $3.5 billion. InSite owns, operates and manages about 3,000 communications sites, primarily in the U.S. and Canada.

The total consideration for the transaction includes cash acquired and the company's assumption or repayment of InSite debt at closing.

The InSite portfolio includes more than 1,400 owned towers in the U.S., over 200 owned towers in Canada and about 70 distributed antenna system or DAS networks in the U.S. In addition, InSite controls more than 600 land parcels under communications sites as well as approximately 400 rooftop sites.

American Tower expects the assets to generate approximately $150 million in property revenue and approximately $115 million in gross margin in their first full year in its portfolio.

The company expects the transaction to be immediately accretive to its consolidated AFFO per share and to close by the end of 2020.

Read the original article on RTTNews ( https://www.rttnews.com/3143386/american-tower-to-acquire-insite-wireless-for-total-consideration-of-3-5-bln.aspx)

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