AP News

KKR invests reported $100M in wireless businesses


NEW YORK (AP) — Investment firm KKR said Monday that it has invested in the wireless businesses managed by Associated Partners L.P.

KKR declined to reveal the size of the investment but the Wall Street Journal, citing unnamed sources, pegged it at $100 million.

The investment is a response to growing demand for wireless infrastructure, given the explosion of smart mobile devices and wireless data needs from both consumers and businesses. KKR said this dynamic, along with future demand, is expected to stimulate the need for more wireless infrastructure assets.

Associated Partners is a telecom industry investment firm managed by David and Bill Berkman.

The agreement between the two firms includes KKR making a minority investment in PEG Bandwidth, AP Wireless and AP Towers. PEG Bandwidth designs and operates networks that connect wireless communications towers to the data fiber backbone, principally in rural geographies. AP Wireless acquires interests in cell site ground and rooftop leases in the U.S. and abroad. AP Towers develops new wireless telecom towers and purchases selected towers currently in operation.

Shares of Kohlberg Kravis Roberts & Co. increased 13 cents to $23.78 by midmorning.


Silicon Valley State of Mind
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus