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Boingo has agreed to acquire Concourse Communications Group LLC, the leading operator of neutral-host wireless access systems
May 22, 2006
SANTA MONICA, Calif. -- Boingo Wireless, Inc., the world's leading wholesale Wi-Fi network aggregator, today announced that it has agreed to acquire Concourse Communications Group LLC, the leading operator of neutral-host wireless access systems. J.P. Morgan Securities Inc. acted as advisor to Boingo for the transaction. Terms of the deal were not announced.
The acquisition means Boingo will operate Concourse's neutral-host networks in 12 leading US airports, including three New York city airports: JFK, LaGuardia and Newark; two Chicago airports: O'Hare and Midway; and other top 100 airports including Toronto, Ottawa, Detroit, Minneapolis, Oklahoma City, Nashville and Atlanta. These 12 networks represent 54% of enplanements among North America's top 100 airports, and 27% of all North American enplanements.
The acquisition expands Boingo's business of building a worldwide Wi-Fi hot spot roaming network and gives the company a platform for testing emerging dual mode handset implementations and VoIP traffic management.
"More than four years of direct usage data showed us that high-traffic airports are the single most valuable venue for Wi-Fi usage and customer acquisition," said David Hagan, president and CEO of Boingo Wireless. "Concourse is the unquestionable leader in domestic high-traffic airports; their commitment to neutral-host systems and high-quality airport installations are a perfect complement to both our retail and platform service lines of business."
"Boingo's global presence and strategic relationships, combined with their retail service offerings, will take Concourse to the next level," said Joseph Beatty, president of Concourse Communications Group. "Extending roaming to more global operators and increasing recurring revenue through subscription services stays true to Concourse's mission while dramatically lifting revenue opportunities."
"As the roaming pioneer in commercial Wi-Fi, Boingo recognizes the value of a neutral-host facility and is committed to ensuring that the installations remain neutral-host for the benefit of all parties interested in roaming," said Jon Irwin, chief operating officer for Boingo Wireless.
Boingo Wireless Inc.
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