Boingo Wireless Buys Hot Spot CompetitorThursday, September 19, 2013
Boingo Wireless Inc. on Thursday said that it signed an agreement to acquire Advanced Wireless Group, a competing airport Wi-Fi provider.
The Los Angeles company said the deal will enable it to offer public Wi-Fi services in nearly 60 percent of North America's top 50 airports and more than 40 percent of the world's top 50 airports.
Advanced Wireless is based in Doral, Fla. Boingo did not disclose terms of the deal, which is expected to close in the fourth quarter.
“Adding AWG’s airport portfolio to our own will help us to reach scale more quickly with a wide array of services,” Chief Executive David Hagan said in a statement.
Boingo shares closed down 7 cents, or 1 percent, to $6.75 on the Nasdaq.