Our experience spans the globe, and CMA has completed hundreds of projects across dozens of countries. CMA has a variety of translators on staff and is able to complete research, expert interviews, and in-depth analysis whether the source material is in Spanish or in Mandarin.

Sample Work by Region


  • For a leading value investor, assessed the opportunity and performance of a major European multinational wireless carrier in its major markets worldwide.  Market assessment included evaluating mobile and mobile broadband  penetration, smart device penetration, demographics, regulatory environment, spectrum availability, competition, and pricing trends
  • For two leading global private equity firms, conducted an extensive assessment of the market for mobile network infrastructure.  Developed a highly granular demand model for each carrier in ~30 countries representing over 80% of mobile network equipment spending worldwide, including data, spectrum, and site demand by carrier by technology based on each carrier’s subscriber base, current network infrastructure, and forecast performance.  Sized the market for mobile network equipment, identified the current market share of major players, assessed revenue from won contracts, and identified future revenue from network upgrades that is still in-play.  Also an assessment of technology competitiveness, differentiation, and pricing across major mobile network equipment providers.
  • For a leading mobile handset company, developed the business plan for a social version of its highly adopted messaging applications.  Conducted a market prioritization based on the application’s current adoption, demand for mobile social services, and advertising spend in each country to target seven countries for initial product launch.  Assessed market demand from brands for mobile social advertising and created compelling ad units and value propositions.  Developed the rate card for the ad units, and delivered a full Go-to-Market plan for the business, as well as a five-year revenue forecast.  This product is now a core piece of the company’s overall strategy

North America

United States

  • Conducted due diligence on the market and technology of a leading DAS provider. CMA provided a detailed assessment of the market for DAS services in the U.S., as well as in each of the target’s key markets
  • Evaluated the buyout of a major northeast metro fiber builder. Examined customer payback analysis, quantified available market opportunity, and developed a detailed financial forecast
  • Evaluated the buyout and merger of two regional fiber providers. Developed a pro-forma financial model and forecast by market and highlighted strategic concerns with the proposed transaction
  • Led the due diligence efforts and synergy estimation for a leading fiber provider‘s acquisition of a publicly-held colocation and complex interconnection provider.
  • For an international ILEC, performed strategic and financial diligence on their multi-million dollar investment in a greenfield Tier IV data center facility. Analysis included a competitive scan, market demand forecast by country and size of business, and a financial model forecasting our client’s ROI
  • For an enterprise-focused colocation provider in the mid-west, developed a market prioritization model based on market demand, supply, taxes, power costs, economic incentives, and other local market factors. Analysis included mystery shopping for pricing comparisons and data center facility assessments
  • For a regional telecommunications provider, conducted the due diligence of a publicly-held colocation and complex interconnection provider. This analysis included a detailed enterprise market size analysis and competitive assessment.
  • For a wholesale focused, Dallas-based data center operator, developed a detailed market prioritization and expansion playbook. For a large data center business with multiple facilities in highly connected locations nationwide, CMA analyzed the opportunities, costs and risks of adding hosted and managed services to its service offerings. We developed a product roadmap and screened approximately 300 hosting and managed services businesses for partnership and acquisition potential to accelerate the delivery of the future service offerings


  • For a Mexican media company, conducted detailed due diligence on a Mexican tower operator, assessed costs for new tower construction, and modeled increased utilization of existing towers based on demand evolution
  • Created a Lease-Up Rate analysis of the Mexican tower market both at a national level and for a portfolio of towers
  • For a leading cable TV operator, developed the business case and technical architecture to deploy voice service on their network
  • Surveyed customers of a major carrier undergoing a significant network transition with high churn in order to evaluate the future stability of the company

Central & South America

  • For a US-based tower operator, evaluated the wireless market in Brazil and Mexico. Quantified consumer demand trends, wireless market evolution, and other tower industry fundamentals
  • Conducted surveys of thousands of wireless and broadband consumers in five countries to determine carrier preferences, consumer needs, and develop a forecast of bandwidth growth and carrier viability
  • For a South American tower operator, evaluated the portfolios of towers across Chile, Argentina, Brazil, Guyana, and other South American countries. Evaluated specific trends for each carrier, assessed risk of M&A, and forecasted lease-up rates for the towers in the portfolio
  • Evaluated a large wireless operator with assets in multiple countries throughout South America. Evaluated the company’s future prospects by assessing customer preferences, carrier competition, coverage comparison, and other relevant factors
  • Evaluated the cost of a 4G LTE deployment in multiple South American countries and derived an ROI to value a potential partnership
  • Redesigned a South American wireless carrier’s 4G LTE rollout plan to ensure sufficient coverage and quality from launch to meet key business plan goals
  • For a large US hedge fund, evaluated a FTTx deployment in Argentina and evaluated the bandwidth consumption dynamics of consumers in the market


  • For a large private equity fund, performed the due diligence and market size analysis for a dark fiber provider
  • For a special situations investor, assisted with ongoing market diligence and management of the turnaround of an Italian CLEC operator
  • For a major hedge fund investor, assessed the market for wireline voice and data services in Spain and conducted due diligence of a large CLEC
  • For a major debt investor, conducted due diligence of a national TETRA public safety wireless network operator.  Assessed the regulatory environment, impact of demand for LTE broadband services, and the technical requirements and likely timing for mission-critical voice migrating to VoLTE
  • For major hedge fund investors, have assessed the FTTx deployments and legacy operations of a number of ILECs, including Eircom, BT, TI, and France Telecom
  • For a special situation investor, assessed the European market entry plan for a satellite radio operator effecting a turnaround

Africa & Middle East

  • For a large hedge fund, evaluated the African holdings of a large wireless carrier to determine strategic value and determine which countries might drive future growth
  • For a private equity fund, evaluated the competitive environment, spectrum availability, and consumer demand dynamics which would drive new base station deployments in a variety of countries


  • Conducted an assessment of one of the top 5 largest mobile network operators in India
  • For a Chinese tower operator, evaluated the Chinese market, industry supply chain and ecosystem to be supplied to potential investors
  • For a major special situations investor, analyzed the market and operations of a struggling mobile network operator.  Evaluated potential turnaround options and assessed the value of the company’s assets, including its spectrum, in the event of a default or bankruptcy
  • For a major debt investor, conducted an outside-in market and commercial due diligence of a major mobile broadband operator
  • For a major hedge fund, conducted an assessment of the market and regulatory environment for cable TV and triple play services in China, in support of a potential growth equity investment
  • For a leading global private equity firm, evaluated the market in Asia for fixed satellite broadband services and conducted due diligence on a potential acquisition target delivering fixed satellite broadband and systems integration services in the region