Crown Castle International Corp agreed to acquire Lightower for an amount of about $7.1 billion in cash. The sellers include Berkshire Partners and Pamlico Capital, while Morgan Stanley & Co LLC served as financial adviser to Crown Castle and Evercore and Citigroup Inc for Lightower, respectively.
Lightower owns about 32,000 route miles of fiber located mostly in top metro markets (Boston, New York, Philadelphia) in the Northeast.
As for Crown Castle, it provides wireless carriers with the infrastructure they need to keep people connected and businesses up and running.