Argentinian digital infrastructure provider ATIS Group has acquired Millicom's Paraguayan tower subsidiary Lati Paraguay.

The transaction will add around 300 wireless communication towers to ATIS Group's portfolio.

It also represents expansion into a new market for ATIS, which owns and operates more than 1,000 tower assets across Argentina, Uruguay, and now Paraguay.

Financial terms of the transaction were not disclosed.

As part of the deal, ATIS has entered into a long-term leaseback arrangement with Tigo Paraguay. This will see ATIS lease tower infrastructure to Tigo Paraguay to continue supporting its mobile network operations.

The final number of towers covered under the leaseback will be determined at the time of closing, noted ATIS.

“ATIS seeks to develop, own, and operate best-in-class mission-critical assets such as wireless telecommunications towers,” said Juan Pablo Blanco, CEO of ATIS Group.

“This acquisition – along with prior ones from Telefónica Uruguay and SBA in Argentina – underscores ATIS’ commitment to the Southern Cone region of Latin America. This important agreement with Tigo is in line with our strategy of long-term partnerships with leading wireless communications operators in the region.”

Towerco Investments LLC took majority control of ATIS in 2022. Since then, ATIS has grown from managing 185 sites to more than 1,000 sites.