Phoenix Tower International to Acquire NOVEC GmbH and Enter the German Market

Phoenix Tower International has announced the acquisition of NOVEC GmbH, the German subsidiary of NOVEC. This acquisition marks a significant milestone for PTI as it enters the German telecommunications market.

Highlights

  • This acquisition marks a significant milestone for PTI as it expands its global footprint.
  • NOVEC GmbH operates 220 telecom sites in Germany.
  • PTI reinforces its commitment to global telecom growth.

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Phoenix Tower International to Acquire NOVEC GmbH and Enter the German Market
Florida-headquartered Global Wireless Communications Infrastructure provider Phoenix Tower International (PTI) announced on Wednesday the signing of a definite agreement with NOVEC to acquire its German subsidiary, NOVEC GmbH. The official statement noted that NOVEC GmbH currently operates 220 telecommunications sites and has developed a significant pipeline of new sites, playing a key role in deploying infrastructure for mobile operators in Germany.

Also Read: Phoenix Tower International Expands Footprint in France With Acquisition of 1,978 Sites




Market Entry into Germany

PTI said this acquisition marks a significant milestone for the company as it enters the German telecommunications market. With this expansion, PTI is reaffirming its commitment to supporting mobile network operators globally in meeting their coverage obligations and delivering high-quality mobile services.

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Collaboration and Advancements

Commenting on this development, Phoenix Tower International said, "Germany is a major global market with significant near term wireless build out needs, especially across more rural locations where no coverage exists today and where the NOVEC team specialises in coverage solutions. This transaction aligns perfectly with our growth strategy and underscores our commitment to providing world-class wireless infrastructure solutions to help our business partners achieve their goals."

"We look forward to working closely with the NOVEC team, German mobile network operators and the local population to contribute to the advancement of telecommunications services and connectivity in Germany," PTI added.

Also Read: Stonepeak to Acquire 49 Percent Stake in Cellnex Nordics for EUR 730 Million

Service Enhancement

PTI noted that it aims to enhance its service offerings, streamline operations, and continue delivering exceptional value to its customers by harnessing the expertise of NOVEC GmbH. The transaction is subject to customary regulatory approvals and is expected to be completed in the coming months.

NOVEC

Established in 2005, NOVEC is the largest independent telecommunications infrastructure provider in the Netherlands, focusing on constructing, managing, and maintaining a comprehensive network of telecommunications towers and associated infrastructure across the Netherlands.

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