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GSS INFRASTRUCTURE LLC (“GSSi”) SIGNS BINDING LOI FOR ACQUISITION OF NTEC ECUADOR
Miami, Fla., May 17, 2022, GSS INFRASTRUCTURE (“GSSI”) today announced that it has signed a binding Letter of Intent (“LOI”) – subject to specific terms and conditions - with Servicio de Telecomunicaciones Ntecdevelopment S.A (“NTEC”) to acquire a 100% equity interest in NTEC.
Once a definitive agreement has been completed, GSSi will own and operate 50 telecom tower sites, 187 equipment overlays, and 267km of fiber in Ecuador. GSSi will also acquire three separate long-term contracts with Telefonica Ecuador (OTECEL) to operate active and passive telecom infrastructure in the Country.
“We are pleased to announce this binding LOI signed with NTEC. This acquisition will provide GSSI with long-term contracts with a premier wireless operator and the opportunity to grow in Ecuador and the entire region. We are excited about the opportunities we see in the wireless sector and expect 5G implementation to accelerate and expand the need for wireless infrastructure. Our management team, with extensive experience in the sector and in the region, is focused on expanding GSSi’s footprint and revenue” stated Juan Bernal, CEO of GSSi.
About GSS Infrastructure
GSSi was founded in 2021 to be a better kind of Network Co-Operator. GSSi is a neutral provider of passive and active telecom infrastructure with an obsessive focus on compliance, operational efficiency, sustainability, and ESG. GSSi rents and operates tower/rooftop/unconventional Infrastructure, fiber optic networks, DAS, and telecommunications equipment for MNOs. For more information visit www.gssinfrastructure.com
NTEC was founded in 2018 and is one of Ecuador’s premier telecom infrastructure service providers. Currently, NTEC operates active and passive infrastructure for multiple MNOs in the Country.
Juan Pablo Bernal
Tel: +1. 786.309.1122
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute “forward-looking statements”, including with respect to proposed acquisitions or business combinations. No assurances can be given that the business combinations discussed above will be completed. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.