American Tower to Acquire Global Tower in $3.3 Billion Deal

American Tower, the biggest operator of cellular towers in the US, agreed to acquire the parent company of rival Global Tower Partners for about $3.3 billion, giving it thousands of additional wireless sites as the appetite for next-generation services grows.

American Tower is buying MIP Tower Holdings, a closely held real estate investment trust that owns Global Tower Partners and related companies. The deal brings American Tower about 5,400 US towers and the management rights to more than 9,000 additional sites. Including debt, the purchase price is about $4.8 billion.