| Type | Public (NYSE: AMT) S&P 500 Component |
|---|---|
| Industry | Diversified Communication Services |
| Founded | 1995 |
| Headquarters | Boston, Massachusetts, U.S. |
| Key people | James D. Taiclet, Jr., Chairman, CEO, & President |
| Revenue | US$1.72B (FY 2009)[1] |
| Operating income | US$672M (FY 2009)[1] |
| Net income | US$247M (FY 2009)[1] |
| Total assets | US$8.51B (FY 2009)[2] |
| Total equity | US$3.32B (FY 2009)[2] |
| Employees | 1,124 (2007) |
| Website | http://www.americantower.com |
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. The company was formed in 1995 as a unit of American Radio Systems, and was spun off from that company in 1998 when that company merged with CBS Corporation.[3] Today American Tower owns and operates over 30,000 sites in the United States, Mexico, Brazil and India. Headquartered in Boston, Massachusetts, American Tower has local offices nationwide.
In 2005, American Tower merged with SpectraSite Communications, Inc., expanding its global portfolio to over 22,000 owned communications sites including over 21,000 wireless towers, 400 broadcast towers and 100 in-building DAS (Distributed Antenna System) sites. The merger further established American Tower’s position as one of the largest tower owner and operators in North America.
American Tower said on February 24, 2010 that its indirectly held, wholly owned Indian subsidiary had entered into a definitive stock purchase agreement that will lead to it acquiring all of the issued and outstanding shares of Essar Telecom Infrastructure, an Indian wireless infrastructure services company.
The total consideration for the acquisition is estimated to be approximately US$430 million and is subject to certain post-closing adjustments, the company said.[4]