Thursday, July 20, 2006
Boingo Buys Airport WiFi Operator
Santa Monica-based Boingo Wireless has acquired Concourse Communications Group, a provider of airport wireless access sytems. Boingo said yesterday that it has officially completed the acquisition of Concourse, which was announced in May, as of June 27th. Boingo said that it has retained almost all Concourse employees in conjunction with the purchase. Concourse operates neutral-host networks at JFK, LaGuardia, Newark, Chicago O'Hare and Midway, along with another 100 airports both in the U.S. and Canada. Boingo said that its investors, including New Enterprise Associates, Mitsui & Co., Sternhill Partners, and Evercore Ventures, retain a majority stake in the firm, with Concourse investors, including Cardinal Growth, acquiring a minority share in Boingo as part of the transaction. Boingo operates a network of Wi-Fi hot spots in hotels, airports, and other public spaces.