Fergie's Tech Blog

FiberTower, First Avenue to Merge Backhaul Operations

Via RCR Wireless News.

Wireless backhaul transporters FiberTower Corp. and First Avenue Networks Inc. said they plan to merge in an all-stock deal worth about $1.5 billion.

First Avenue said it will issue approximately 74 million shares of its common stock to FiberTower shareholders, giving them a combined stake of 51 percent in the new company to be named FiberTower Corp. The new company will have an installed base in 12 markets with more than 1000 sites, and the companies said that while their respective networks and operations are complementary, they will have little overlap once combined.

posted by Fergie @ 5/15/2006 10:41:00 AM