SBA Communications Corporation acquired Optasite Holding Company for approximately $433.3 million, a transaction completed in September 2008, structured as stock plus assumed debt.
Optasite Holding Company operates in Wireless towers - US, is based in United States (incl. Puerto Rico and U.S. Virgin Islands). On September 16, 2008 a SBA subsidiary merged with Optasite Holding Company Inc., which owned 528 tower sites across 31 states, Puerto Rico and the U.S. Virgin Islands plus about 38 managed sites. SBA issued 7.25 million Class A shares to Optasite securityholders, assumed Optasite's fully-drawn $150 million senior credit facility and assumed roughly $26.9 million of additional liabilities.
Expanded SBA's owned-tower footprint by 528 sites and added an infrastructure subsidiary (renamed SBA Infrastructure) with related managed sites.
Advisory firms were not disclosed for this transaction.