This week, Verizon announced a new deal with Vertical Bridge, an infrastructure specialist, which will significantly impact mobile tower deployment in the US. According to the agreement, Vertical Bridge will construct new mobile towers for Verizon on a to-suit basis. As the anchor tenant, Verizon will be able to lease these new towers, which will also be offered on a wholesale basis to other wireless service providers.
To facilitate this deal, Vertical Bridge will establish a new company that will own and manage the new towers, while Verizon will have a profits interest in the company. This unique arrangement provides Verizon with a vested interest in the towers’ wholesale success.
This innovative business model is expected to benefit both parties, as well as accelerate the deployment of 4G and 5G in the United States. Verizon’s Chief Engineering Officer, Lynn Cox, said, “Our new agreement with Vertical Bridge is an excellent alternative to the traditional tower leasing model. This cost-effective, sustainable, and efficient model will allow us to accelerate our build program and provide additional services to customers.” She added, “We continue to focus on technology innovation and fast deployment to enable greater connectivity for our customers.”
Although the financial terms of the deal have not been disclosed, this agreement highlights a potential shift in the way infrastructure and mobile tower management projects are conducted in the future. Vertical Bridge, meanwhile, announced some executive changes, with Ronald G. Bizick II, currently the company’s president and chief operating officer, soon taking up a new position. He will replace Vertical Bridge co-founder Alex Gellman, who will become the company’s executive chairman, continuing to steer its strategy and investments.
This innovative partnership between Verizon and Vertical Bridge promises to shake up the US mobile tower market, potentially bringing about faster 4G and 5G rollouts and an emphasis on collaboration among infrastructure providers.
In other industry news, Vodafone and Three UK are reportedly closing in on a merger, while Bell has partnered with Air Canada for in-flight Wi-Fi. Additionally, Virgin Media O2 and Good Things Foundation have joined forces to launch an apprenticeship scheme, further emphasizing the importance of collaboration and innovation in the telecommunications sector.
