DAS firm Mobilitie snags $100M investment
Private-equity firm Shamrock Capital Growth Advisors is providing $100 million in equity capital to Mobilitie, which will use the money to deploy new high-speed distributed antenna systems (DAS) and small cell technology infrastructure at sites across the United States. Wireless operators can lease access to Mobilitie's neutral-host networks at venues such as stadiums, where DAS technology enables improved wireless connectivity during games, concerts and other highly attended events, as well as traffic offloading from local wireless networks. "The insatiable demand for data coupled with the numerous devices accessing wireless networks has led to a significant need for investment in today's wireless networks," said Gary Jabara, Mobilitie's founder and CEO. "To partner with Shamrock and have their financial support and communications expertise enables Mobilitie to tackle this important need." Mobilitie operates DAS networks at sports venues like Tropicana Field (MLB), Time Warner Arena (NBA), Arrowhead Stadium (NFL) and Nationwide Arena (NHL) as well as at other venues such as MGM Resort properties in Las Vegas. It is currently developing a network for Churchill Downs thoroughbred horse racetrack. Mobilitie also owns a portfolio of communication towers and is actively securing and developing new U.S. tower sites. For more, see this Mobilitie release.