Shamrock Invests in Wireless Infrastructure FirmTuesday, February 19, 2013
Shamrock Capital Advisors has invested $100 million in Newport Beach wireless infrastructure firm Mobilitie, the companies announced Tuesday.
Mobilitie said it would use the money from Shamrock Capital Growth Fund III to expand its cell technology infrastructure at public locations, Wi-Fi networks and wireless communication tower sites around the country.
Mobilitie operates networks that can be used by all major wireless carriers to provide their customers with better wireless connections during games, concerts, and other large events, as well as off-load traffic from local wireless networks. Mobilitie already operates at several sports stadiums and MGM Resort properties in Las Vegas.
“We are … significant believers in the opportunity to invest and build out wireless infrastructure,” Steve Royer, a partner at West L.A.-based Shamrock, said in a statement. “Mobilitie’s flexible and efficient business model enables wireless and wireline carriers to preserve precious capital while accelerating network development.”
Shamrock was founded in 1978 by the late Roy E. Disney to invest in media, entertainment and communications companies.