TowerCo is selling as many as 430 of its wireless communications towers for as much as $193.5 million to SBA Communications.

TowerCo, which was launched in 2004, is based in Cary.

The tower deal is expected to close by May 30.

TowerCo, which is backed by financier George Soros, said it will continue to develop and acquire cell phone towers.

SBA is based in Florida.