IHS Towers acquires rival Helios Towers Nigeria (HTN)

IHS Holding on Thursday announced that it has agreed to acquire Helios Towers Nigeria (HTN), in the process adding 1,211 tower sites in Nigeria to its portfolio.

IHS, which owns 23,300 mobile towers across Nigeria, Cameroon, Ivory Coast, Zambia and Rwanda, said it expects to derive “meaningful synergies” from the transaction, given that a considerable part of its footprint is located in Nigeria.

The deal, which is subject to regulatory approval, is expected to close in the second quarter of this year, IHS said.

“This transaction is significant in that it combines Africa’s two original tower companies and will enable us to strengthen our service offering to our customers while focusing on their needs,” said Issam Darwish, Group CEO of IHS.

Read more: Towers consolidation in Africa as IHS buys rival