ExteNet Systems, Inc., a Lisle, IL-based designer, builder and manager of distributed networks that provide carrier-class solutions to support indoor and outdoor connectivity for wireless service providers in the United States and Canada, closed a $128.4m round of equity financing.
The round was led by SSP Offshore LLC, with partipation from SBA Communications Corporation, Centennial Ventures, Columbia Capital, Sevin Rosen Funds, CenterPoint Ventures and Palomar Ventures.
The transaction included the transfer of SBA’s distributed antenna systems subsidiary business, SBA DAS Holdings, LLC, with operations principally located in the metropolitan areas of the northeastern United States.
The additional financial and operational resources will support ExteNet’s continued development of infrastructure for wireless service providers.
Commenting on the funding, ExteNet’s Chairman and Chief Executive Officer, Ross Manire, was qouted as saying: “This investment and the assets from SBA will allow us to significantly grow our business in a manner that supports wireless companies’ development of more robust and efficient networks”.
In connection with the transaction, David K. Wassong, managing director, and Waldemar Szlezak, principal, both in the Private Equity Group at Soros Fund Management LLC, have joined the company’s board of directors.