Two local companies have hit it big in the last week. Both were recipients of multi-billion dollar deals that show the value of technology-related business in South Florida
The first was Brightstar, on Friday, Oct 18. This is how the South Florida Business Journal described the transaction. Softbank Corp of Japan bought a 57% share of the local developer of cell phone towers for a whopping $1.26 Billion. As the SFBJ said in another article, “The deal will vastly expand Brightstar’s business, since the company will be the exclusive provider of mobile phones for Sprint and other SoftBank telecom affiliates.”
Then, yesterday, Global Tower Partners topped even that news with the announcement that it has been sold for $3.3 Billion to American Tower Corp. GTP is only 10 years old and it was named to the SFBJ “Fastest Growing Technology Companies” less than a week ago.
Some purists have said that these companies are really not tech companies so we shouldn’t count them in the tech community. While it is true neither build hardware or write software as their primary function, both focus on the supply of high technology services to end users by filling key parts of the technology system necessary to make that happen. No less than the web hosting companies, the fiber optic cable companies, and the vendors who keep our our doctor’s offices computers working, they are part of the high tech eco system in South Florida.
One fact to point out is that, while Brightstar is from Miami-Dade County, Global Tower Partners is from Palm Beach County. This is another illustration that we are a regional tech community and we should act like one.
Our congratulations to both!