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Wednesday, January 7, 2015

Tower company Extenet Systems explores sale-sources, (NASDAQ: SBAC)

Extenet Systems, which makes small wireless towers to help large telecom carriers improve their service in places like U.S. sports stadiums, is exploring a sale that could fetch more than $700 million, according to people familiar with the matter. Privately-held Extenet, whose investors include George Soros' Quantum Strategic Partners and tower company SBA Communications, is working with investment bank TAP Advisors to help find a buyer, said these people, who asked not to be named because the matter is not public.Representatives for Extenet did not respond to a request for comment.The company, based in Lisle, Illinois just outside Chicago, builds and maintains distributed network infrastructure, known as DAS, which helps telecom carriers such as AT&T boost their wireless capabilities. It has its wares in some high profile locations such as New York's Empire State Building.The company also has deals with professional arenas and ballparks including Marlins stadium in Miami and contracts to install towers in outdoor areas in San Francisco, according to its website.

SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers. Shares of SBAC traded higher by 1.0% or $1.09/share to $109.74. In the past year, the shares have traded as low as $87.03 and as high as $122.79. On average, 1084080 shares of SBAC exchange hands on a given day and today's volume is recorded at 463562.