Boingo Board Hires Strategic Advisers to ‘Assess’ Possible Company Sale, Says CEO
Boingo Wireless won’t comment on “rumors or speculation” that it’s putting itself up for sale, but “we can share that we have received multiple inquiries regarding a potential strategic transaction,” said CEO Mike Finley on a Q4 call Monday. Boingo’s…
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board hired strategic advisers “to help us assess these opportunities,” so it's suspending 2020 forecasts “until further notice,” he said. Boingo's Wi-Fi offload services are "an important way that we partner with the carriers to help solve the insatiable growth of mobile data traffic," said Finley. "We remain confident that it is not a question of if, but when, every domestic carrier is participating in some form of offload to ease congestion on their cellular networks." Shares closed 18% higher Tuesday at $14.04.