{"id":205974,"date":"2021-03-02T10:36:33","date_gmt":"2021-03-02T10:36:33","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=311159"},"modified":"2021-03-02T10:36:33","modified_gmt":"2021-03-02T10:36:33","slug":"digital-colony-agrees-boingo-wireless-takeover","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2021\/03\/02\/digital-colony-agrees-boingo-wireless-takeover\/","title":{"rendered":"Digital Colony agrees Boingo Wireless takeover"},"content":{"rendered":"

<\/p>\n

\tThe board of Wi-Fi and DAS specialist Boingo Wireless unanimously backed a $854 million takeover bid by infrastructure investment company Digital Colony, with the proposed deal expected to close in Q2.<\/p>\n

Digital Colony\u2019s offer is subject to shareholder and regulatory approval and includes taking on Boingo Wireless\u2019 debt of $199 million. It will pay $14 per share for the company, which will be delisted from the stock exchange on completion.<\/p>\n

Boingo Wireless CEO Mike Finley said the proposed sale concluded a \u201crobust strategic review process\u201d conducted over the last 12 months and would offer the business “greater flexibility” to “continue advancing” its plans.<\/p>\n

During its review, several media reports claimed Boingo Wireless was close to finding a buyer, with multiple suitors said to be in the frame.<\/p>\n

In the Boingo Wireless earnings statement for 2020, released on the same day as the takeover announcement, Finley said the company had maintained \u201cbusiness velocity\u201d in 2020, despite Covid-19 (coronavirus) headwinds accelerating an “anticipated decline in our legacy retail and advertising products” and delaying “progress on several projects into 2021\u201d.<\/p>\n

Net loss increased from $10.3 million in 2019 to $17.1 million in 2020, with revenue down 10 per cent to $237.4 million.<\/p>\n\n

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The board of Wi-Fi and DAS specialist Boingo Wireless unanimously backed a $854 million takeover …<\/p>\n

The post Digital Colony agrees Boingo Wireless takeover<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":246,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Digital Colony agrees Boingo Wireless takeover - ITTeacherITFreelance.hk","description":"The board of Wi-Fi and DAS specialist Boingo Wireless unanimously backed a $854 million takeover ... The post Digital Colony agrees Boingo Wireless takeover app"},"footnotes":""},"categories":[11,8],"tags":[7846],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/205974"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/246"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=205974"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/205974\/revisions"}],"predecessor-version":[{"id":205975,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/205974\/revisions\/205975"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=205974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=205974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=205974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}