Network infrastructure provider ExteNet Systems announced that long-term institutional investor John Hancock Life Insurance Company is leading a consortium that will acquire approximately 30% of the company.
John Hancock will join existing major investors, Digital Colony and Stonepeak Infrastructure Partners, the company said.
ExteNet will utilize the capital investment from John Hancock to fund its future growth as it scales for 5G network densification and addresses advanced connectivity needs of its customers including mobile network operators (MNOs), carriers, property owners and enterprises.
?We are pleased to welcome John Hancock to ExteNet?s investor group,? said Marc Ganzi, executive chairman of ExteNet. ?Communications infrastructure is leading global digital transformation, and we are in the early stages of a decade-plus 5G investment cycle. John Hancock is a perfect partner for ExteNet as we continue to provide best-in-class digital infrastructure solutions for our customer base and lead the transformation to 5G.?
?ExteNet has been a pioneer in wireless infrastructure, deploying mission critical networks and innovative 5G capabilities to its customers throughout the United States.? We look forward to our partnership with John Hancock to support the next chapter of growth,? said Brian McMullen, senior managing director at Stonepeak.
ExteNet?s executive management team structure is expected to remain unchanged post-transaction.
?With our strong track record of providing market-leading, shared digital infrastructure and services for our customers, ExteNet is perfectly positioned to excel in our commitment to deliver tomorrow?s connectivity today,? said Jim Hyde, president and CEO at ExteNet. ?I am excited to work with our newest partner, John Hancock, as we continue to build next-generation infrastructure and innovative solutions, including outdoor and in-building 5G, nationwide.?
ExteNet noted that the transaction is subject to various regulatory approvals. The financial terms of the transaction were not disclosed.
Headquartered in Lisle, Illinois, ExteNet?s customers include mobile network operators (MNOs), real estate owners, property managers, wholesale carriers, enterprises, municipalities and rural carriers. The firm?s outdoor small cell and DAS networks are deployed in a variety of urban, suburban and rural environments while indoor networks are deployed in sports and entertainment venues, convention centers, commercial office buildings, college campuses, healthcare facilities, hotels and resorts, and transit systems nationwide.