Boingo Wireless Inc., a wholesale Wi-Fi network aggregator, today announced it has agreed to acquire Concourse Communications Group LLC, an operator of neutral-host wireless access systems.
Terms of the deal were not announced.
Boingo will operate Concourses neutral-host networks in 12 leading U.S. airports, which represent 54% of enplanements (the number of passengers departing an airport) among North Americas top 100 airports, and 27% of all North American enplanements.
The acquisition expands Boingos business of building a worldwide Wi-Fi hotspot 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.
The two companies lines of business are highly complementary with little operational overlap. As a result, Boingo will retain nearly the entire Concourse staff and continue to operate the field offices in Chicago, Dallas and New York. Boingo has developed joint-task teams of Boingo and Concourse employees who will work together on strategies and timelines for integration of operations.
Boingo Wireless and its Concourse subsidiaries will use the Boingo brand name. The parent company, Boingo Wireless Inc., will be cash flow positive with a strong balance sheet that allows Boingo to continue building a global roaming network for connecting Wi-Fi-enabled devices from laptops to dual-mode handsets to the Internet through partnerships with major carriers, operators and brands around the world.
Boingos investors will retain a majority stake in the new company. Concourses investors will acquire a minority share in the new company as part of the transaction.
Boingo Wireless Inc. www.boingo.com
Concourse Communications Group LLC