InSite Wireless Group, LLC Goes International with the Acquisition of Majority Interest in Canadian Company Turris Sites Inc.
Dec 17, 2012
With its investment in Turris Sites, InSite Wireless Group adds more than 45 Canadian sites to its existing wireless communications tower portfolio—expanding the company’s reach beyond the United States and its territories.
InSite Wireless Group, LLC ("InSite"), owner, operator and manager of wireless communication tower site facilities and distributed antenna systems (DAS) across the United States, Puerto Rico, and the U.S. Virgin Islands, today announced its investment in Turris Sites Inc. (“Turris”), a leading owner, operator and manager of wireless communication tower site facilities in Canada. Pursuant to the purchase agreement, InSite acquired a 54% equity interest in Turris. Turris will continue to be led by its existing management team headed by President John Wahba and COO Rick Sullivan.
David E. Weisman, President and CEO of InSite, describes the new partnership as groundbreaking. “The Canadian tower market represents a significant growth opportunity for us. We’re delighted to be partnering with an experienced management team with a keen understanding of the local marketplace.”
Full press release.