Tower firm Crown Castle completed its purchase of distributed antenna system maker NewPath Networks from Charterhouse Group, a deal which effectively extends Crown's business beyond the traditional tower model. Crown executives believe that DAS systems are growing in importance as wireless operators strive to improve their network capacity and coverage--factors that are growing in importance due to the surge in smartphones and the increased demand for mobile broadband.
NewPath Networks CEO and co-founder Mike Kavanagh will join Crown as the the firm's president of U.S. DAS operations.
The acquisition, which was first announced July 30, is valued at $115 million. NewPath was the eleventh platform investment made from the Charterhouse Equity Partners IV fund.
Distributed antenna systems are a collection of small antennas spread over a specific geographic area and connected by fiber back to a central location or power source, usually a base station. Wireless operators use these systems indoors to improve coverage in large buildings such as shopping malls or stadiums. They are also deployed outdoors in areas where carriers need to fill coverage gaps and dead spots in their macro network.
Crown Castle owns, operates and manages tower sites in 92 of the top 100 markets in the U.S.
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