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The deal will see Vertical Bridge build towers across the US to help Verizon expand the reach of its 4G and 5G Ultra Wideband services
This week, Verizon has announced it’s a new deal with Vertical Bridge that will see the infrastructure specialist build new mobile towers for the operator on a to-suit basis.
Verizon will serve as the anchor tenant for these new towers, which will also be offered on a wholesale basis to other wireless service providers.
The deal will see Vertical Bridge set up a new company to own and manage the new towers, with Verizon holding a profits interest in the company, thereby giving them a vested interest in the towers’ wholesale success.
This is a new business model when it comes to tower deployment, one that the companies argue wil be a win–win for both parties and help accelerate the rollout of 4G and 5G in the US.
“Our new agreement with Vertical Bridge is an excellent alternative to the traditional tower leasing model. This cost-effective, sustainable and efficient model will allow us to accelerate our build program and provide additional services to customers,” said Lynn Cox, Chief Engineering Officer for Verizon. “We continue to focus on technology innovation and fast deployment to enable greater connectivity for our customers.”
The financial terms of the deal were not disclosed.
In related news, Vertical Bridge this week announced that Ronald G. Bizick II, currently the company’s president and chief operating officer, will
He takes over the role from Vertical Bridge co-founder Alex Gellman, who will become the companies executive chairman and “remain active in steering the strategy and investments of the company”.
How is the US mobile tower market shifting? Join the operators in discussion at Connected America 2024
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