Tuesday, March 3, 2020

Boingo Wireless Target Of Acquisition Effort

Los Angeles-based Boingo Wireless, which provides distributed antenna system (DAS), small cells and Wi-Fi services--including running its own network of Wi-Fi hotspots and small cell networks--says that it has received "multiple inquiries regarding a potential strategic transaction". The company, in its quarterly earning release, said it is "not commenting on rumors regarding the recent news story speculating the Company is exploring a potential sale." Boingo says it has engaged advisors to help "assess these opportunities", but did not say who it has hired to help it manage any potential transaction. Boingo Wireless has been in the midst of a restructuring, having cut 16% of its staff in December; the company has been digesting an acquisition of a competing company, Elauwit Networks. Boingo Wireless has recently been in the midst of refocusing its business from Wi-Fi into the distributed antenna system (DAS) and "small cell" market, where it is providing wireless connectivity to telecom carriers. Elauwit is a provider of Wi-Fi to the student housing and other markets.

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