SBA Communications to Buy Cell Towers for $1.45 Billion

SBA Communications Corp. agreed to buy more than 3,200 cell tower sites from closely held TowerCo for $1.45 billion in cash and stock, as it looks to capitalize on the rising demand for wireless data services.

The deal marks the second major tower transaction this year for SBA and likely eliminates it as a possible bidder in T-Mobile USA’s effort to sell some of its cell towers. In a conference call Tuesday, SBA Chief Executive Jeffrey Stoops said the company wouldn’t be making “any other major U.S. transactions this year.”

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik