AMT has been on a shopping spree, buying property from Verizon Wireless and several other companies. The demand for bandwidth continues to grow in the U.S as a result of smartphones and other mobile technology. Telecom also has growth potential overseas, especially in emerging markets such as India. In April of 2016, AMT acquired a 51% controlling interest in Viom Networks Ltd., a major wireless tower operator in India for $1.14 billion. This will give AMT access to India's rapidly growing wireless market, with control of around 42,000 towers in India alone. According to AMT (pdf) nearly 90% of internet connections in India are made on a 2G network, with smartphone 3G/4G penetration of under 25%. This creates a very attractive growth scenario going forward as India works hard on upgrading its networks.