Diamond Acquires Cheytec Telecommunications’ In-Building Assets, Contracts.
Wireless infrastructure company Diamond Communications announced this week its subsidiary Diamond Mobile Solutions acquired Cheytec Communications’ in-building assets. A number of Cheytec’s employees will join Diamond’s expanding in-building telecommunications infrastructure business segment as part of the acquisition. Diamond currently manages more than 200,000 properties and structures throughout the United States.
“We are excited to have completed the acquisition of Cheytec’s in-building assets, which adds to our growing in-building portfolio of DAS and other indoor wireless systems,” Diamond CEO Ed Farscht said in a release. “As the need for in-building carrier grade wireless coverage continues to grow, Cheytec’s unique in-building solutions will allow us to better serve both building owners and wireless carriers.”
Cheytec is a market leader in In-building solutions. With their agreements with wireless carriers and Nokia and Ericsson, they are able to deliver top of the line in-building cellular coverage. They have developed a strong portfolio of partners for designing, deploying, and servicing their in-building systems.
The assets in the transaction include the in-building cellular systems that Cheytec deployed at Times Square EDITION hotel in New York, the Manassas Mall in Manassas, VA and the Blumenthal Performing Arts Center in Charlotte, NC, among others.
Several Cheytec key members will join Diamond, including co-founders Jim Spinella and Jarrett Bluth.
“It will be business as usual for our customers, vendors, and the carriers,” Bluth said in a statement. “Under the Diamond flag, we will now be able to bring new options to the market with solutions tailored to meet our customers’ technology and financial needs.”
“We are thrilled to be joining the Diamond team,” Spinella said a statement. “The combination strengthens our ability to provide the best in-building solutions and coverage for property owners and enterprises across business verticals, including commercial real estate, hospitality, healthcare, residential, gaming, malls, stadiums, and other venues. This will also help efficiently strengthen the networks of our carrier partners. This will be an increasingly needed service as we migrate to the next generation of wireless coverage, including 5G and beyond.”