American Tower Acquires Global Turnkey Engineering Services Firm.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Jan. 31, 2000 American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. (NYSE NYSE See: New York Stock Exchange :AMT See vPro. ) today announced it merged with Galaxy Engineering Services, a global turnkey provider of engineering consulting services, based in Atlanta, GA. Galaxy offers a number of turnkey engineering consulting services that complement the services American Tower is currently offering to carriers. Galaxy provides wireless local loop/fixed wireless engineering, RF network design, drive testing Wireless service providers (especially in the USA) to build maps of signal strength for designing networks base stations, use a mobile setup with a spectrum analyzer, antenna and drive through the areas, thereby creating these signal-strength maps. This is called drive-testing. , optimization, competitive benchmarking of WLL See wireless local loop and PHS-WLL. , PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. and Cellular networks, VQUAL(TM) voice quality analysis, transport engineering, interconnect and microwave services. Jim Eisenstein, Chief Development Officer of American Tower, said, &uot;We view Galaxy as a strategic addition to our Company. Galaxy's engineering expertise will further enable American Tower to provide turnkey services solutions to carriers and should improve the quality of our site selection efforts. We look forward to working with Joe Forbes, Chairman of Galaxy, and his team as we pursue the many opportunities ahead of us.&uot; Paul Blaser, General Manager of Galaxy, said, &uot;Galaxy is thrilled to join American Tower. Galaxy and American Tower have enjoyed a great working relationship for several years and entered into a Joint Marketing Agreement in 1998. Going forward, we plan to create new business opportunities at both the regional and corporate level.&uot; American Tower is the leading independent owner operator and developer of broadcast and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. sites in North America. Giving effect to other pending transactions, American Tower operates approximately 10,400 sites in the United States and Mexico, including approximately 300 broadcast tower sites. Of the 10,400 sites, approximately 9,000 are owned or leased towers and approximately 1,400 are managed and lease/sublease sites. Based in Boston, American Tower has regional hub offices in Boston, Atlanta, Chicago, Houston, San Francisco and Mexico City. For more information about American Tower Corporation, please visit our web site www.americantower.com. This press release contains &uot;forward-looking statements&uot; concerning future expectations, plans or strategies that involve a number of risks and uncertainties. The Company wishes to caution readers that certain factors may have affected the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made by or on behalf of the Company. Such factors include, but are not limited to (i) substantial capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications, use of satellites for internet data transmission, and implementation of digital television, (iii) the success of the Company's tower construction program and (iv) the successful operational integration of the Company's business acquisitions. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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