Waveconn, an independent Australian digital infrastructure owner and operator, has entered into a definitive agreement to acquire 100% of the shares in AT Australia Pty Ltd and AT Australia Operations Pty Ltd (together “AT Australia”) from American Tower Corporation (NYSE: AMT).
This acquisition expands Waveconn’s portfolio by around 170 sites across Australia, comprising land under mobile towers and building rooftops.
The transaction is subject to customary conditions precedent including Foreign Investment Review Board approval and, subject to the satisfaction of those conditions, is expected to close in the 4th quarter of 2024.
Waveconn was advised by Kain Lawyers and PwC.
About Waveconn
Waveconn is a developer, owner and operator of neutral host digital infrastructure assets across Australia. Waveconn owns and operates around 1,400 tower and rooftop sites nationwide with hundreds more actively under development. Waveconn is entirely independent, with no direct or indirect mobile network operator (“MNO”) ownership or funding.
Waveconn specialises in building, owning and managing digital infrastructure for a range of clients, including the three national MNOs, government radio networks, and wireless internet service providers. Our market-leading deployment capability sets us apart, enabling faster, more efficient digital infrastructure rollout. This positions Waveconn to meet the growing demand for reliable, high-quality wireless connectivity across Australia.
For more information about Waveconn, please visit waveconn.com
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multi-tenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data centre facilities.
For more information about American Tower, please visit www.americantower.com
For further information:
Waveconn
Grant Stevenson | CEO
American Tower Corporation
Adam Smith | Senior Vice President, Investor Relations and FP&A
Jonathan Thienemann | Senior Director, Corporate External Communications