InSite Wireless Group, LLC (Alexandria, VA), an owner/operator of wireless communication tower site facilities and distributed antenna systems (DAS) across the U.S. and in its territories, has announced its investment in Turris Sites Inc., an owner, operator and manager of wireless communication tower site facilities in Canada. With its investment in Turris, InSite adds more than 45 Canadian sites to its existing wireless communications tower portfolio -- expanding the company’s reach beyond the United States and its territories.
David E. Weisman, President and CEO of InSite, describes the new partnership as groundbreaking. "The Canadian tower market represents a significant growth opportunity for us," he says. "We’re delighted to be partnering with an experienced management team with a keen understanding of the local marketplace."
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Pursuant to the purchase agreement, InSite acquired a 54% equity interest in Turris, which will continue to be led by its existing management team headed by company President John Wahba and COO Rick Sullivan. "Turris, its investors, and its employees are excited about this new relationship with InSite," said Wahba. "We view this as a unique opportunity not only to leverage the success and resources of one of the premier US tower companies but also to accelerate further the strong growth of our Canadian business."
Established by the founders of Mountain Union Telecom LLC, InSite Wireless Group began in December 2000 as InSite Wireless, LLC, a company focusing on the in-building segment of wireless infrastructure. The company built and launched its first DAS at the Moscone Center in San Francisco in 2001, and has developed and operates additional DAS projects in convention centers, hotels and casinos, airports, sports stadiums, and transit systems such as Boston's MBTA subway system.
In 2006, InSite Wireless Group was formed as the parent organization to InSite Wireless, LLC, and the tower division, InSite Towers, LLC, was created. Today InSite Towers is ranked by RCR Wireless as among the top 10 U.S. tower companies and develops, manages, owns and operates more than 650 telecommunications towers and sites for wireless carriers across the U.S,, Puerto Rico, the U.S. Virgin Islands, and now in Canada. More information on InSite's business can be found here.
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