INWIT Finalizes Smart City Roma Acquisition

Published on November 11, 2024

INWIT, Italy’s leading tower company, has finalized the acquisition of a controlling 52.08% stake in Smart City Roma, marking a pivotal move in its effort to deliver the ambitious Roma 5G project alongside Roma Capitale. The transaction, first announced in June, positions INWIT as the lead player in one of Italy’s most significant connectivity projects, aimed at transforming Rome into a smart city hub.

The deal, valued at over €97 million, includes €20 million from public funds. Originally led by Boldyn Networks, the Smart City Roma project had only begun six months ago under a 25-year agreement with Roma Capitale, making its quick exit noteworthy. With the acquisition finalization on 30 October 2024, Smart City Roma has installed a new leadership board featuring Andrew Peter McGrath as chairman and Michele Gamberini as CEO.

The Roma 5G initiative should provide robust 4G and 5G connectivity throughout the city’s primary infrastructure, including metro lines, public squares, and streets. Plans include installing small cells, 2,000 cameras, IoT sensors, and expanding Wi-Fi coverage to 100 public squares. The project aligns with INWIT’s 2024-2026 business strategy, which forecasts revenue growth and increased investment, reflecting its commitment to bolstering Italy’s digital infrastructure for all telecom operators.

Share this news: