CiG Wireless acquires assets from Towers of Texas

CiG Wireless Corporation, a leading independent owner and operator of wireless communications infrastructure in the United States, has announced that it has acquired certain communications towers and related assets and rights from Towers of Texas, a privately held company. CiG has paid an aggregate purchase price of USD3.55 million in cash for all of the tower sites acquired. Paul McGinn, CiG’s president and CEO, commented: ‘This acquisition includes existing towers, representing assets that bring both existing cash flow and significant growth potential to CiG. As we execute to plan, we will look to supplement our ongoing organic growth with a strong focus on acquisitions through the remainder of the calendar year’. The acquisition closed on 7 September, in conjunction with the company’s newly signed credit facility with Macquarie Bank.