Indonesia-based tower company Bersama Digital Infrastructure Asia and investment firm Opti-Teknology Philippines are set to buy 51% and 49% of Alliance Towers‘ new shares respectively.
The transaction is on track to be completed within the third quarter of 2022.
Philippines-based Alliance Towers constructs and operates telecom towers -all of which are currently located in Visayas and Mindanao. The firm, which is looking to build more towers, intends to partner with major mobile network operators in the Philippines to strengthen the country’s telecom infrastructure for a digital-native generation.
Shareholders of Opti-Teknology and Bersama Digital also said the firms would supply Alliance Towers with technical, financial, and on-ground support.
In 2004, Bersama Digital’s shareholders established Tower Bersama Infrastructure, which has since constructed over 12,000 of its near-21,000 telecom towers in Indonesia.
Opti-Teknology is headed by Sherwin Hing and Jaime Enrique Gonzales, who are also chairpersons, CEOs, and founders of multiple companies. The investment firm’s shareholders are also the founders of Alliance Towers.
The growing adoption of tech and the need for interconnectivity has greatly increased the demand for telecommunications towers worldwide. The global industry is set to reach a market value of US$75.5 billion by 2027, with at a compound annual growth rate of 7.2%.