Thu, 08 Nov 2018 | MERGER
Global investment firm, Digital Colony has acquired Open Cell Ltd, a mobile network that provides coverage for indoor spaces and plans to combine the business with Stratto Ltd, a leading provider of premium DAS and small cell networks.
The owners and management team of Open Cell will become shareholders of the merged company with Digital Colony being the majority shareholder.
Funded by Digital Colony’s existing equity commitment to Stratto, further capital was provided by the global investment firm to finalise the transaction.
Marc Ganzi, managing partner of Digital Colony, said: "Our goal from day one has been to build the leading digital infrastructure platform that delivers exceptional indoor and outdoor network solutions to the mobile network operators in the UK Combining Opencell's capabilities and active networks with the Stratto platform helps us accelerate those goals.
"We look forward to continuing to strengthen our relationships with our customers as well as positioning Digital Colony's UK digital infrastructure platform as the recognised leader in the small cell sector."
Established in October 2016, Stratto provides solutions to enterprise customers, property developers, owners and managers. The company has extensive experience in launching and scaling telecoms, technology, network and service companies.
Richard Bourne, chief executive of Stratto, said: "Opencell has an excellent reputation in the industry for providing innovative small cell solutions to its diverse customer base across various building types.
"Our two businesses and product sets are highly complementary and combining them will allow us to benefit from and strengthen each other's relationships with the mobile operators as we look to expand our customer base and deliver a broader range of small cell and DAS solutions."
Stratto and Digital Colony sought legal advice from law firm, Morgan, Lewis & Bockius while Fieldfisher advised Open Cell.
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