In August this year, SBA Communications announced it intended to exercise and close its option to acquire all but 6% of Atlas Towers SA, co-founded by Nate Foster and Randi Clendennen. SBA Communication has made a total investment of US$140mn to acquire 94% of the South African towerco. Atlas SA is expected to generate annual revenues of US$31mn and adjusted EBITDA of US$21mn during its first full year of operation after closing. Through this investment, SBA Communications take control of approximately 900 sites throughout South Africa and a substantial new tower development backlog that should take the total beyond 1,000 by the start of 2020.
SBA Communications to enter South Africa with planned Atlas Towers SA acquisition
