Boingo considering potential sale – report
Summary
Citing unnamed sources familiar with the matter, Bloomberg reported that Boingo is now exploring options and handling potential offers with the help of an advisor. Specifically, the sources called out private equity firms, strategic buyers or infrastructure funds as could-be suitors. In late 2019 Boingo disclosed that it was chopping 16% of its workforce, or about 80 employees, as part of an effort to increase profitability through a reorganization of its business units after its stock had been on a steady decline. That included growth of its neutral host cellular distributed antenna systems (DAS) business for carriers in places like airports and stadiums, as well as coverage on military bases and in multifamily dwelling units (MDUs). At the end of 2019 Boingo planned to restructure business units into ‘core’ products where investments would be focused on Carrier Services (DAS, Offload, 5G, CBRS), Military and Multifamily.