Phoenix Tower International Completes Acquisition of Cellnex Operations in Ireland

On March 5, 2024, Phoenix Tower International (PTI) announced a pivotal agreement with Cellnex Telecom, culminating in the acquisition of 100% of Cellnex’s operations in Ireland for approximately €971 million. This strategic move positions PTI as the largest tower owner in Ireland and highlights its ongoing commitment to enhancing connectivity within the nation, as well as contributing to the improvement of telecommunications infrastructure.

The acquisition is anticipated to significantly benefit the Irish populace and mobile network operators (MNOs) operating within the region. Dagan Kasavana, the CEO of PTI, expressed enthusiasm about the deal, stating, "We are thrilled to have executed this strategic transaction, which marks a vital milestone in our expansion in Europe. This acquisition underscores our commitment to Ireland. We look forward to contributing to the development of a robust and advanced telecommunications infrastructure that will benefit both the Irish people and our invaluable mobile network operator partners. We were pleased to collaborate with the professionals at Cellnex and the Irish regulatory authorities to bring this transaction to fruition."

The deal not only secures PTI’s position in the Irish market but also sets a solid foundation for the future of telecommunications in the country. Currently, PTI oversees operations and plans to manage over 29,000 telecommunications towers across Europe, the United States, Latin America, and the Caribbean. This acquisition will further bolster its presence in several European nations, including Ireland, France, Italy, Germany, Malta, and Cyprus.

Founded in 2013, Phoenix Tower International aims to be a leading site provider to wireless operators in rapidly growing markets. The company boasts an impressive array of investors, including funds managed by Blackstone, Wren House, Blackrock, Grain Management, USS, and various members of its executive team. PTI's headquarters are located in Boca Raton, Florida, where it continues to drive developments in the telecommunications sector.

With this acquisition, PTI is not only expanding its operational footprint but is also demonstrating a strategic commitment to innovation and development in telecommunications. The deal is expected to generate substantial benefits for both businesses and consumers by enhancing network capabilities and accessibility across Ireland.

This acquisition aligns with global trends in the telecommunications industry, as companies seek to scale operations and improve public connectivity. PTI’s move is a testament to its robust strategy in reinforcing its market share and ensuring quality service delivery.

As the telecommunications landscape continues to evolve, partnerships and acquisitions such as this one will be crucial in shaping the future of connectivity. PTI's acquisition of Cellnex represents a forward leap into a future with improved network solutions and connectivity options for customers in Ireland. For more information on Phoenix Tower International and its projects, please visit www.phoenixintnl.com.