SUDBURY — March 6, 2023: Jannatec Technologies announced today that it has sold its communication towers located in the Sudbury, Ont., region to American Tower. The sale represents a strategic decision by Jannatec to refocus its efforts on its core business of engineering and manufacturing communications equipment.
“We are pleased to have reached an agreement with American Tower for the sale of our communication towers in Sudbury,” said Wayne Ablitt, CEO of Jannatec Technologies. “This transaction will allow us to concentrate our efforts on our core business of designing and manufacturing innovative communication solutions for our customers.”
The sale of the communication towers to American Tower is part of a larger strategy by Jannatec to streamline its operations and return to its core competencies. The company has been investing heavily in research and development to create new and innovative communication solutions, and this move will allow it to focus even more on this aspect of its business.
“We are committed to providing our customers with the most advanced and reliable communication equipment on the market,” said Ablitt. “By divesting our communication towers, we are able to devote more resources to our core business of engineering and manufacturing, and we are confident that this will enable us to continue to grow and innovate.”
Jannatec Technologies has a long history of providing high-quality communication solutions to customers in a variety of industries, including mining, construction, and transportation. The company is committed to providing innovative and reliable products that meet the evolving needs of its customers, and this strategic move is expected to help it achieve that goal.
“We believe that this transaction represents a win-win for both Jannatec and American Tower,” said Ablitt. “We are excited to focus on our core business and continue to innovate, while American Tower will benefit from our high-quality communication towers in Sudbury. We look forward to continuing to work with American Tower and to serving our customers with the best communication solutions on the market.”
About American Tower: American Tower is a leading independent owner, operator and developer of wireless and broadcast communication real estate. Our global portfolio includes approximately 223,000 communications sites and is experiencing steady growth. In addition to leasing space on towers, we provide customized collocation solutions through our in-building systems, outdoor distributed antenna systems and other right-of-way options, managed rooftops and services that speed network deployment.
Headquartered in Boston, Massachusetts, American Tower has operations across the United States and in Argentina, Australia, Bangladesh, Brazil, Burkina Faso, Canada, Chile, Colombia, Costa Rica, France, Germany, Ghana, India, Kenya, Mexico, Niger, Nigeria, Paraguay, Peru, Philippines, Poland, South Africa, Spain, and Uganda.
About Schauenburg International: Jannatec Technologies is a part of Schauenburg International Group. Schauenburg International is a strategic family equity investor, investing in profitable, established industrial companies and promising tech ventures. As a holding company, Schauenburg International supports industrial companies to become market and technological leaders. They promote future proof technologies in a sustainable, growth-orientated manner through Schauenburg Ventures.