ALEXANDRIA, VA & CANTON, OH -- InSite Wireless Group, LLC (InSite), one of the country’s largest private operators of wireless communications infrastructure, today announces the acquisition of majority interest in Agile Networks, a leading provider of telecommunications solutions based in Canton, Ohio. Pursuant to the purchase agreement, InSite, headquartered in Alexandria, Va., will become the single largest investor in Agile. The acquisition provides InSite with a portfolio of public-private partnerships and a significant infrastructure network and assets spanning hundreds of locations throughout the Midwest. Agile will become an operating division of InSite.
"The investment in Agile helps to grow InSite’s footprint of wireless tower infrastructure assets while adding a critical public telecommunications network platform," said David E. Weisman, CEO of InSite. "Agile is a natural addition to InSite’s operations and delivers the resources and additional infrastructure to extend services to customers throughout our current and expanding footprint."
"This is an exciting period of growth for Agile and we could not have found a more fitting partner to continue delivering connectivity solutions and infrastructure to our diverse customers across the Midwest," Agile Networks CEO Kyle Quillen said. "Our team has worked extremely hard to build Agile and the infrastructure network to where we are today."
"Agile has truly been a driving force for innovation in our community and throughout the state," Canton Mayor Thomas Bernabei said. "We appreciate the investments Agile has made in key projects like the Innovation District in Canton, showing their commitment to their home community, while experiencing significant national growth. We are eager to see this investment continue and grow after the acquisition, as connectivity and infrastructure are critical in a 21st-century economy and innovative infrastructure solutions are instrumental to meeting such needs."
The transaction closed August 1, 2019. Bank Street Group LLC served as exclusive financial advisor, ICE Miller LLP served as legal counsel and 415 Group served as accountants to Agile Networks in connection with the InSite transaction.