BAI communications (BAI) today announced plans to expand its business in North America by acquiring U.S. telecommunication infrastructure company Mobilitie.
Through the deal, BAI says it will absorb Mobilitie’s 220 venues across 39 U.S. states, 10,000 small cells and 300 tower sites.
BAI is an Australian telecommunication infrastructure provider, with its majority stake belonging to the Canadian Pension Plan Investment Board (CPPIB). Its products focus on building cellular and Wi-Fi networks for large infrastructure projects, including the Toronto and New York City subway system, under its majority-owned business Transit Wireless. In the U.S., Mobilitie runs a similar business.
“This alignment and the complementary fit of our offerings make this an exciting move for BAI and our customers around the world,” said Igor Leprince, group chief executive officer of BAI Communications in a June 28 press release.
In addition to the acquisition, the Globe and Mail also reported that CPPIB and Canadian Crown corporation and institutional investor Alberta Investment Management will be investing an additional $2.4 billion in BAI.
The deal announced on Monday is undergoing regulatory clearances and is expected to close in Q3 2021, according to the press release. BAI was not immediately available to comment on the financial details surrounding the deal.
