ExteNet Systems, a wireless-infrastructure company whose business is soaring with the demand for video and data by smartphone and tablet users, is Chicago's newest “unicorn” with a valuation over $1 billion.
Recapitalization to Fuel Long-Term Growth in Rapidly Expanding Small Cell Market
CHICAGO, July 23, 2015 /PRNewswire/ -- ExteNet Systems, Inc., a leading provider of distributed networks enabling outdoor and indoor wireless connectivity, today announced that Digital Bridge Holdings (Digital Bridge) and Stonepeak Infrastructure Partners (Stonepeak) have committed or arranged for over $1 billion in a recapitalization of the company in which the interests of existing investors will be acquired and additional capital will be provided to support the long-term growth of the business.
ExteNet Systems, a builder and operator of DAS and small cell systems, is set to become part of Digital Bridge Holdings, the investment group that owns Vertical Bridge and Mexico Tower Partners. Along with Stonepeak Infrastructure Partners, Digital Bridge is set to acquire ExteNet’s current investors, including SBA Communications. The purchase price is expected to be more than $1 billion, but the companies did not specify the exact amount.