ICOA Acquires Cafe.com

ICOA acquires the assets, contracts, existing hotspot locations and equipment of wireless Internet provider Cafe.com in a cash and stock deal

August 3, 2005

1 Min Read

WARWICK, R.I. -- ICOA, Inc. (OTC Bulletin Board: ICOA), a national provider of broadband Internet networks and managed services in high-traffic public locations, announced today it has acquired the assets, contracts, existing hotspot locations and equipment of Café.com, a privately held Santa Monica, Calif.-based wireless Internet provider, in a cash and stock deal.

Café.com is ICOA’s seventh acquisition since the company entered the broadband wireless market in late 2003. Previous acquisitions were QGo, Airport Network Solutions, iDockUSA, AuthDirect, Wise Technologies and LinkSpot Networks.

Café.com has 40 deployed locations in Southern California, including Denny’s, IHOP, and Dunkin Donuts, as well as hotels, coffeehouses and bakeries.

Rick Schiffmann, ICOA’s CEO, said, “This acquisition secures a diversified regional footprint in southern California and relationships with leading national brands to further strengthen our quick-service restaurant (QSR) footprint.”

There are more than 1,600 Denny’s restaurants, 1,100 IHOP and 4,400 Dunkin Donuts locations across North America.

Ronan Higgins, CEO of Café.com, said, “We have enjoyed the challenge of building Café.com to profitability and developing relationships with leading QSR brands. We have been approached by many suitors and are pleased to join the ICOA family of companies, business model and seasoned team.”


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