Friday, March 25, 2016
Boingo Wireless Targeted By Activist Investor
Los Angeles-based Boingo Wireless reported on Thursday afternoon that an investment group, Ides Capital Management LP, has nominated two candidates for election to the company's board of directors. Boingo Wireless said that Ides Capital owns 104,927 shares, or approximately 0.3% of the outstanding shares of the company. Boingo said that it was "disappointed" that Ides Capital decided to publicly announce that nomination of directors. Ides Capital is seeking two of Boingo's six board seats. Boingo Wireless operates both a network of Wi-Fi access points at airports and other locations, as well as a network of small cell network locations for stadiums and other high density areas.