Is American Tower’s acquisition of Viom Networks a good deal?

US$76,540 per tower deal is first notable marriage between the world’s two oldest tower industries

Read this article to learn:

  • How and why American Tower have achieved scale in India
  • More than just 42,200 towers and 200 DAS: Viom Networks’ management strength, proven cash flows and unrivalled ability to lease up towers
  • Viom’s successful exit: From startup to US$3.23bn valuation in ten years
  • The stock market’s verdict, and why differences in the U.S and Indian business model must be taken into account when judging valuations
  • American Tower’s appetite for further acquisitions in Asia

After a two year courtship, the marriage of American Tower and Viom Networks has finally been announced. The dowry agreed (does that analogy work?) will be US$1.17bn. Taking into account the initial 51% stake and the just under billion dollars of local debt American Tower is taking on, the transaction creates an enterprise value of…

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