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Boingo Wireless announced the completion of the acquisition of Concourse Communications Group
July 19, 2006
SANTA MONICA, Calif. -- Boingo Wireless, Inc., the world's leading wholesale Wi-Fi network aggregator, today announced the completion of the acquisition of Concourse Communications Group LLC, the world’s leading operator of airport neutral-host wireless access systems. The transaction officially closed June 27.
The acquisition -- announced May 22 -- combines the neutral hosting operations of Concourse with Boingo’s global Wi-Fi network aggregation and wireless Internet access services for Boingo subscribers and Boingo partners. The business lines are highly complementary with no operational overlap, allowing Boingo to retain almost all Concourse employees.
“The acquisition of Concourse creates a strong foundation for Boingo moving forward,” said David Hagan, Boingo Wireless CEO and president. “A more diversified service base with multiple revenue sources creates a new, larger Boingo that is cash flow positive with operational scale and poised for rapid growth.”
“Concourse is a well-run organization with a talented staff that will be a great asset to Boingo moving forward,” said Jon Irwin, COO for Boingo Wireless. “The integration plans are well underway, and both teams are bringing great ideas to the table.”
Post-acquisition, Boingo now operates the neutral-host networks installed and maintained by Concourse at 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 and Nashville with walled garden access at Atlanta. These 12 networks represent 54% of enplanements among North America's top 100 airports, and 27% of all North American enplanements. The company will continue to pursue new neutral-host network installations in large-scale facilities.
Boingo Wireless Inc.
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