Cignal spends €15m to expand telecoms tower portfolio
2 August 2018 | 0
Telecoms infrastructure provider Cignal has spent more than €15 million in acquiring and building mobile & broadband communications towers in the past 18 months.
Since acquiring a portfolio of 400 sites from Coillte in 2015, the company has added a further 100 sites through a series of acquisitions and new site developments.
With a total current portfolio of telecoms infrastructure in over 500 key locations across urban and rural Ireland, Cignal now has reached a market share of 18% of the Irish market for infrastructure supporting mobile, fixed wireless broadband communications and broadcast services.
Cignal’s market consolidation strategy has led to the acquisition of 30 towers from a privately-owned company in 2017, with a further 10 towers acquired from Telent in early 2018. Telent had originally acquired these towers in 2015 as part of its acquisition of Arqiva’s Secure Solutions business.
“We have been growing rapidly through the acquisition of new tower sites and we see opportunities for further consolidation of the telecoms infrastructure sector in Ireland,” said Cignal’s Chief Executive Colin Cunningham.
“The efficiencies and cost savings we can provide through hosting multiple operators is beneficial to customers and helps avoid the need for unnecessary towers being built.
“The new sites we have added provide real value to local communities through solving coverage blackspots and urban densification, enabling the delivery of high-speed mobile and wireless broadband. We will continue to invest in expanding our network to help our customers to provide enhanced speeds and service to communities across Ireland to their subscribers.”
Cignal’s investment programme has been supported by its majority shareholder Infravia Capital Partners, a specialist infrastructure investor which also has interests in the Irish private hospital and nursing homes sectors.