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Mobilitie LLC, a leading provider of wireless infrastructure in the United States, announced that it has raised $100 million in equity capital from Shamrock Capital Growth Fund III, a private equity firm that invests exclusively in media, entertainment and communications companies.
NEWPORT BEACH, CA (PRWEB) February 19, 2013
Mobilitie LLC, a leading provider of wireless infrastructure in the United States, announced that it has raised $100 million in equity capital from Shamrock Capital Growth Fund III, a private equity firm that invests exclusively in media, entertainment and communications companies. The proceeds will be used to deploy and build new high-speed Distributed Antenna Systems (“DAS”) and small cell technology infrastructure for high-traffic public venues, wi-fi networks, and new wireless communication tower sites across the U.S.
Mobilitie owns and operates neutral-host networks that can be utilized by all major wireless carriers to provide their customers with increased wireless connectivity during games, concerts, and other highly attended events, as well as off-load traffic from the local wireless network. The 4G wireless technology also serves fans and patrons by providing interruption-free cell phone service and increased capacity and data speeds during peak event times in order to access the internet, run interactive applications, and quickly upload photos and videos to social networks.
“We have been infrastructure-build partners to the wireless carriers for almost a decade and today’s environment is unlike no other. The insatiable demand for data coupled with the numerous devices accessing wireless networks has led to a significant need for investment in today’s wireless networks,” said Gary Jabara, Founder and CEO of Mobilitie. “To partner with Shamrock and have their financial support and communications expertise enables Mobilitie to tackle this important need. We are very excited at this opportunity to leverage our collective relationships and complimentary professional cultures.”
In just the past five months, Mobilitie has built neutral host DAS networks for all the major professional sports leagues and is operating networks at such locations as Tropicana Field (MLB), Time Warner Arena (NBA), Arrowhead Stadium (NFL), and Nationwide Arena (NHL). Mobilitie also operates wireless networks at other marquee venues across the country including MGM Resort properties in Las Vegas, and has a large pipeline of additional properties under contract and development, including Churchill Downs. Additionally, Mobilitie has built a portfolio of new communication towers and is actively securing and developing new tower sites across the US.
“We have known the Mobilitie team for several years and have been impressed with their track record,” commented Steve Royer, Partner at Shamrock. “We are honored to partner with Mobilitie and team, and are significant believers in the opportunity to invest and build out wireless infrastructure required to meet the growing demand of wireless consumers. Mobilitie’s flexible and efficient business model enables wireless and wireline carriers to preserve precious capital while accelerating network development.”
Mobilitie was founded in 2005 with the goal of assisting wireless carriers in meeting their network infrastructure needs through a strategic partnership model. Mobilitie is recognized as an industry leader for developing, operating, and leasing communication towers, indoor and outdoor DAS networks, and other infrastructure that supports wireless communications. Mobilitie DAS networks are designed as neutral-host networks to enable broadcast of the latest 4G technology from all wireless carriers. Mobilitie is headquartered in Newport Beach, CA. For more information about Mobilitie, visit http://www.mobilitie.com.
About Shamrock Capital Advisors
Shamrock Capital Advisors is a Los Angeles-based private equity firm with over $700 million of capital under management. Investing exclusively in the media, entertainment, and communications sectors, Shamrock partners with strong management teams and takes an active, collaborative approach to creating value in each investment. Originally founded in 1978 as the Roy E. Disney family investment company, Shamrock is currently investing out of Shamrock Capital Growth Fund III, a $400 million fund raised in 2011. Shamrock’s representative investments include Learfield Communications, MarketCast, K2 Towers, Screenvision, REALD, T3 Media, Mojiva, MediaStorm, PRN, The Harlem Globetrotters, and TeleGuam. For more information, visit http://www.shamrockcap.com.
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