NEWPORT BEACH, Calif., Nov. 10, 2015 /PRNewswire/ -- Mobilitie LLC, the nation's largest privately-held wireless infrastructure provider, today announced it has closed a $325 million debt investment. Led by CIT Bank, N.A., and TD Securities (USA), LLC, the investment will continue to fuel the exponential growth of the company's Distributed Antenna Systems (DAS), Small Cell, Communication Tower and Wi-Fi business investments.
Mobilitie's announcement comes as industry forecasts point to a significant increase in mobile data traffic, with the Cellular Telephone Industries Association (CTIA) predicting that 2019 mobile data traffic will reach nearly 600% the amount used in 2014. An increase in mobile data use will require massive network investments capable of providing the coverage and capacity needed across the country.
"As the Big 4 Carriers, Real Estate Owners, Professional Sports Leagues, and Governments seek ways to accommodate the ever-increasing need for seamless mobile access, Mobilitie is leading the effort to fund, design, and build innovative wireless solutions for even the most complex network challenges," said Christos Karmis, President of Mobilitie. "We're driving the country's most important infrastructure projects, and deploying more venue infrastructure and new outdoor macro networks than any other firm." Mobilitie's growth has been largely fueled by its intelligent approach to telecommunications infrastructure in the U.S.
Mobilitie's partners include all major wireless carriers, and sports and entertainment arenas such as Arrowhead Stadium, home of the Kansas City Chiefs, Edward Jones Dome, home of the St. Louis Rams, the Honda Center, home of the Anaheim Ducks, Verizon Center, home of the Washington Wizards, Tropicana Field, home of the Tampa Bay Rays, Toyota Park, home of the Chicago Fire Soccer Club, and Churchill Downs, home of the Kentucky Derby. Mobilitie also owns and operates the largest Carrier Grade Wi-Fi Network in the world in Las Vegas through a partnership with MGM Resorts.
The $325 million debt funding is another in a long list of significant investment activities for Mobilitie since its founding by Gary Jabara in 2005. In February 2013, the company secured a $100 million investment from Shamrock Capital Growth Fund III, and in 2012, Mobilitie raised $1.1 billion through the sale of more than 2,300 towers and other mobile sites to SBA Communications. Previous deals include a $415 million raise with TD Securities in 2011 and a $425 million raise in 2008.
Mobilitie is the largest privately-held wireless infrastructure provider in the United States. Mobilitie finances, owns, and operates DAS, Small Cell, Wi-Fi networks, communication towers, as well as other infrastructure used by wireless carriers. Mobilitie is headquartered in Newport Beach, California with regional offices across the United States. To learn more about our wireless coverage solutions, and our financing capabilities, visit us at www.mobilitie.com.