Crown Castle to acquire fiber provider Wilcon for $600M

|About: Crown Castle International... (CCI)|By:, SA News Editor

Crown Castle International (NYSE:CCI) has a deal to acquire private fiber services provider Wilcon Holdings for $600M.

Wilcon holds about 1,900 route miles of complementary fiber mainly in Los Angeles and San Diego, which would bring CCI's pro forma holdings to more than 28,000 route miles.

The acquisition gives CCI a "long runway of growth opportunities" in a low-utilization market, says CEO Jay Brown.

The deal's expected to close in Q3, and in its first year contribute about $40M to gross margin and $10M to G&A expenses.