January 25, 2010 - ExteNet Systems, Inc. has raised $128.4 million in equity funding in a deal that transfers SBA Communications Corp.'s DAS assets to the Lisle, Ill. distributed antenna solution provider.

The new round of equity financing includes the SBA assets, as well as contributions from SSP Offshore L.L.C., an affiliate of Soros Fund Management L.L.C., and all five of the company's existing institutional investors: Centennial Ventures; Columbia Capital; Sevin Rosen Funds; CenterPoint Ventures and Palomar Ventures.

SBA acquired its DAS assets with the  purchase of Lightower in 2008. At that time Lightower had five distributed antenna system networks.

"The wireless industry is facing tremendous customer demand for new wireless services including expanded data, text, video, and voice applications.  All of these demands are creating strains on the wireless service providers' networks," said ExteNet's Chairman and Chief Executive Officer Ross Manire.

"This investment and the assets from SBA will allow us to significantly grow our business in a manner that supports wireless companies' development of more robust and efficient networks," Manire said.
"Since we first entered the DAS business in the fall of 2008, we have been seeking to materially increase our investment and capabilities in DAS," commented Jeffrey A. Stoops, SBA's President and CEO.

"Today we have accomplished that with our investment in ExteNet. We have had the pleasure of knowing and admiring Ross Manire and his team for years. ExteNet is a best in class DAS provider, with superior capabilities, technology, experience and project success. SBA will work closely with ExteNet to provide comprehensive customer solutions, and our goal is to provide increased investment to ExteNet over time as required," Stoops said.

The assets provided to ExteNet  include the physical networks as well as employees and existing contracts.