IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, has announced that it has completed the acquisition of HTN Towers and its 1,211 diversified tower sites throughout Nigeria.
The deal, which was announced in March, was expected to close in the second quarter of 2016, after going through regulatory approval. Under the terms of the deal, IHS acquired the entire issued share capital of HTN and now has full operational control of the underlying business, according to a statement made available to TechLoy.
Going forward, HTN’s towers will be seamlessly integrated into the IHS network and connected to IHS’s state of the art network operating centre which monitors each tower 24 hours a day, seven days a week.
HTN and IHS established the mobile telecommunications infrastructure industry in Nigeria in the early 2000s and this deal is the first in-market consolidation in Africa.