Thursday, June 3, 2021

Boingo Wireless Now Owned By Digital Colony

Los Angeles-based Wi-Fi network and distributed antenna systems provider Boingo Wireless is now officially owned by private equity investor Digital Colony, the two said on Wednesday. The deal valued Boingo at approximately $854M. Digital Colony paid $14.00 in cash per share of Boingo common stock. The deal takes Boingo off the public markets, where it had been trading as WIFI on the NASDAQ. The deal also included assumption of $199M in Boingo's net debt obligations, which is included in the valuation. Boingo was founded in 2001.

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