Monday, May 22, 2006
Boingo Buys Airport WiFi Operator
Santa Monica-based Boingo Wireless is buying Concourse Communications Group, an airport WiFi network operator, the company said this morning. Terms were not disclosed. Boingo Wireless said that it will buy Concourse and will operate the firm's networks at 12 US airports. Concourse provides wireless network connectivity at JFK, LaGuardia, Newark, O'Hare, Midway, and other airports in the US and Canada. J.P. Morgan Securities advised Boingo on the acquisition. Boingo said that the acquisition would expands its worldwide Wi-Fi hot spot roaming network, and give it a platform for testing dual mode handset implementations and VoIP traffic management. Boingo also said that Cardinal Growth and other major investors in Concourse will acquire a minority share of the new company, joining Boingo's existing investors New Enterprise Associates, Mitsui & Co., Sternhill Partners, and Evercore Ventures.