(Bloomberg) — Radius Global Infrastructure Inc., which leases cell sites to wireless-tower companies and mobile-network operators, is exploring strategic options including a sale, according to people with knowledge of the matter.
The company, led by Chief Executive Officer Bill Berkman, is working with an adviser to solicit interest from potential suitors, including infrastructure investment firms, the people said, asking not to be identified discussing private information.
A representative of New York-based Radius declined to comment.
Shares of the company surged a record 18% after Bloomberg reported the news, to close at $14.71 in New York. That brought the market capitalization to about $1.55 billion.
Radius’s operating company, APWireless, has more than 8,000 cell-site leases in 21 countries across North and South America, Europe, Asia and Australia, its website shows.
Infrastructure-focused firms have been investing heavily in digital assets, which are viewed as stable with recurring revenue.
(Updates with share reaction in fourth paragraph.)
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