IHS Towers has completed the acquisition of Skycites, which is a Brazilian provider of telecommunication infrastructure. The acquisition marks the second IHS Towers transaction in 12 months in Brazil.
It is reported that the transaction’s value is not disclosed. The Brazilian provider has nearly 10,000 towers in its portfolio. These towers will be fully integrated into IHS Towers operations in Brazil in the coming months.
IHS Towers is one of the largest infrastructure providers in Africa, Europe, Latin America and the Middle Easter by tower count. It is also the third largest multinational company in the world. The acquisition will increase the IHS Towers’ strength in the Brazilian telecommunications industry.
Sam Darwish, IHS Towers Chairman and Group Chief Executive Officer, told the media, “I am delighted to announce our acquisition of Skysites in Brazil, an acquisition which further reflects our strategic growth ambition in global emerging markets. Brazil represents a key market for us with its exceptional growth potential and, through this transaction, we are significantly increasing our market presence following our entry into the region last year with the acquisition of Cell Site Solutions.”
Currently, the Latin giant has 100,000 antennas installed. Globally, IHS Towers is reported to comprise more than 28,700 towers across nine markets. It operates in Brazil, Colombia and Peru in the Latin American market. The acquisition is a testament to the growth strategy of IHS Towers across its key markets, and will strengthen the upcoming launch of 5G network in the Brazilian market.