BMIT Technologies, a prominent provider of cloud, infrastructure, and cybersecurity solutions, is set to broaden its infrastructure offerings with the acquisition of GO’s passive tower infrastructure. This strategic move will empower BMIT to take ownership and management of around 280 tower sites, enhancing its capabilities and revenue potential in the telecommunications space.
Expanding Reach with Tower Acquisition
In a significant development, BMIT Technologies is gearing up to acquire GO’s passive tower infrastructure. These towers serve as crucial hosts for cellular telecommunications equipment. With this acquisition, BMIT is poised to play a pivotal role in ensuring the continued delivery of mobile services to subscribers.
Responsible Ownership and Management
BMIT’s acquisition includes the commitment to maintain and upgrade these sites. Moreover, the agreement allows GO to retain access to operate and provide mobile services on this network. This arrangement ensures the continuity of operations for both BMIT Technologies and GO, bolstering their partnership as anchor tenants on the network.
Strategic Growth and Future Expansion
As part of the agreement, GO will undertake to install and deliver 30 additional sites to BMIT by the end of 2030. This collaborative initiative showcases the commitment to ongoing development and growth within the telecommunications sector. BMIT Technologies is set to secure these sites/towers with a total consideration of approximately 47.1 million euros.
Project Sky: Elevating Revenue and Performance
BMIT Technologies is elated with the approval of this pivotal transaction, aptly named “Project Sky.” This landmark project is expected to bring an immediate impact on the company’s revenue and performance. It will not only fortify BMIT but also diversify and enhance its growth profile and revenue base.
Confidence of Shareholders
The overwhelming support of 99.99 percent of BMIT Technologies’ shareholders at an extraordinary general meeting held on September 25, 2023, reflects the confidence and belief in the strategic vision of the company.
As the technology landscape continues to evolve, BMIT Technologies’ expansion into the telecommunications infrastructure sector signifies its commitment to providing a comprehensive suite of IT solutions, ensuring a stable and revenue-generating future.
