FiberTower and First Avenue to Merge, Targeting Wireless Backhaul

FiberTower, a national provider of wireless backhaul, and First Avenue Networks, a nationwide provider of fixed wireless transport services, agreed to merge in an all-stock transaction valued at approximately $1.5 billion.

The merger will create one of largest operators of wireless transport services in the U.S. Both companies operate networks to provide backhaul - transport from cell site to switch - for wireless carriers. The new company will have an installed base in 12 markets with more than 1,000 sites. The companies said their networks and operations are complementary and once combined will have minimal overlap.

FiberTower shareholders will own 51% of the combined company, which will retain the FiberTower name and be listed on the Nasdaq Stock Market.

http://www.fibertower.comhttp://www.firstavenet.com

• First Avenue Networks holds extensive spectrum in the 24 GHz and 39 GHz bands covering 99% of the United States.