ExteNet Reveals $1B Recapitalization Plan

Recapitalization will enable ExteNet to continue pursuing strategic deployment of outdoor and indoor distributed networks, including small cells.

July 23, 2015

2 Min Read

BOCA RATON, Fla. -- ExteNet Systems, Inc., a leading provider of distributed networks enabling outdoor and indoor wireless connectivity, today announced that Digital Bridge Holdings (Digital Bridge) and Stonepeak Infrastructure Partners(Stonepeak) have committed or arranged for over $1 billion in a recapitalization of the company in which the interests of existing investors will be acquired and additional capital will be provided to support the long-term growth of the business. The recapitalization will enable ExteNet to continue pursuing strategic deployment of outdoor and indoor distributed networks, including Small Cells, to meet the network densification and the advanced wireless connectivity needs of its customers, which include the nation's leading wireless carriers and venue owners.

Key members of the ExteNet Executive Management Team, including co-founder and CEO Ross Manire, will remain with the company and continue to be investors in it. Digital Bridge CEO Marc Ganzi will assume the position of Chairman of the Board at ExteNet after the closing of the transaction. Also joining Mr. Manire on the Board will be Warren Roll of Digital Bridge and Trent Vichie and Brian McMullen of Stonepeak.

Mr. Manire highlighted the contributions from the current investor group to ExteNet's continued success and growth in the dynamic wireless infrastructure marketplace. "Our current institutional investors - Columbia Capital, Centennial Ventures, Sevin Rosen Funds, CenterPoint Ventures, Palomar Ventures, Quantum Strategic Partners Ltd (a private investment vehicle managed by Soros Fund Management), and SBA Communications - have been instrumental in assisting the business in its development from early concept stage to the significant enterprise of today. We greatly appreciate their years of support and guidance."

"Distributed networks, including Small Cells and DAS, are multi-billion dollar opportunities today and are projected to grow at more than 25 percent compounded annually. We are now well positioned to both execute our long-term growth plans and also meet the future needs of communications carriers across our target market segments," said Mr. Manire. "After a great run with our initial venture investor group who started with us ten years ago and the other significant investors who joined in 2010, Digital Bridge and Stonepeak are the ideal partners for this recapitalization. I am looking forward to closing the transaction and working with Marc, with whom I have had a long term industry relationship, and the other new board members to leverage their extensive experience and proven success in the communications infrastructure industry."

ExteNet Systems Inc.

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