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American Tower Corporation (AMT) Presents at Annual Virtual Wells Fargo TMT Summit - Transcript

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American Tower Corporation (NYSE:AMT) Annual Virtual Wells Fargo TMT Summit December 1, 2021 8:40 AM ET

Company Participants

Rod Smith - Executive Vice President, CFO, and Treasurer

Conference Call Participants

Eric Lukow - Wells Fargo


Good afternoon everyone. Before we get started, if you are a member of the press or media please disconnect at this time. This is a restricted line. Any unauthorized party in this meeting or any unauthorized use of the information communicated in this meeting is subject to prosecution to the fullest extent of the law any unauthorized person including the media.

Eric Lukow

Good morning everyone. Welcome to our second day of the Wells Fargo TMT Summit. I'm Eric Lukow, senior analyst covering the communications infrastructure sector. I'm really pleased this morning to be joined by Rod Smith, the CFO of American Tower. Rod, thanks for joining us.

Rod Smith

Yes good morning Eric, it's great to be here. Good morning everyone.

Eric Lukow

So Rod, I wanted to jump into something that's obviously really topical given the recent announcement and that's your acquisition of -- announced acquisition of CoreSite. We certainly heard your thoughts about the synergies with the metro and mobile edge, but perhaps you could share your general view on why data centers are an asset class you need to own versus partner with? And then why specifically CoreSite and why now if many of the mobile edge type of synergies will not really be realized for several more years?

Rod Smith

Yes, great Eric. I think it's a great place to start and I think you are right, it is very topical and as you know we announced the acquisition of CoreSite. We're working through the tender offer now and we could close that transaction later this month. I guess I would start by just

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