Cell tower owner Phoenix Tower International (PTI) will acquire the German subsidiary of Novec BV.

The deal will see PTI enter the German market for the first time. Financial terms were not disclosed.

Mobile towers Germany
– Getty Images

Novec GmbH currently operates 220 telecommunications sites in Germany, and has developed a significant pipeline of new sites in order to play a key role in deploying infrastructure for mobile operators in the country.

"Germany is a major global market with significant near-term wireless build-out needs, especially across more rural locations where no coverage exists today and where the Novec team specializes in coverage solutions," said Dagan Kasavana, CEO of Phoenix Tower International.

"This transaction aligns perfectly with our growth strategy and underscores our commitment to providing world-class wireless infrastructure solutions to help our business partners achieve their goals. We look forward to working closely with the Novec team, German mobile network operators, and the local population to contribute to the advancement of telecommunications services and connectivity in Germany."

Florida-based PTI has identified Europe as an area for expansion, acquiring a further 1,978 sites in France last month.

Following that acquisition, PTI now owns more than 3,600 sites in France, which is its biggest market, with the company noting it's on course to hit 5,000 in the country within two years.

In total, the company operates over 23,000 telecom towers across Europe, the US, Latin America, and the Caribbean.

PTI expects the deal to be completed later this year, though it remains subject to regulatory approval.