MasTec Buys WesTower For $199 Mln - Quick Facts

(RTTNews) - Infrastructure construction company MasTec Inc (MTZ) Monday acquired WesTower Communications Inc, a U.S. subsidiary of Exchange Income Corp (EIF.TO), for a one-time payment of about $199 million in cash, subject to customary purchase price adjustments.

WesTower is a telecommunications services firm, focusing on construction and maintenance of communications infrastructure related to wireless networks throughout the U.S. Its operations have experienced revenue expansion, growing from about $100 million in 2010, to about $450 million in projected revenues in 2014.

WesTower provides services to major wireless carriers through 16 regional operating offices located throughout the Eastern, Central and Western U.S., and has about 1,600 employees.

MasTex expects the deal, exclusive of merger integration costs, to be accretive to 2015 earnings in the range of $0.05 to $0.10 per share.

For the fourth quarter, the company anticipates the deal, exclusive of merger integration costs, and due to WesTower's seasonally lower fourth quarter revenue expectations, to be about $0.01 to $0.03 dilutive to earnings per share.