Boingo buys location-based advertising provider Cloud Nine Media.
8 August 2012 - US wireless fidelity (Wi-Fi) Internet provider Boingo Wireless Inc (NASDAQ:WIFI) has taken over Wi-Fi sponsorship and location-based advertising specialist Cloud Nine Media, the buyer said on Wednesday.
No financial details related to the transaction were provided.
The acquisition of the San Francisco-based company gives Boing access to its tools for providing full share-of-voice sponsored access, which will replenish its hotspot management system for Wi-Fi networks, the buyer said.
Demand for sponsored access and location-based advertising services has been on the rise, in tandem with the expansion of Boingo's network into new venue types, CEO David Hagan said. The deal will also help Boingo tap into the advertising market through the Wi-Fi sponsorship model, helping advertisers and consumers establish stronger relationships. The service allows advertisers to choose their customers by venue category, location or audience segment.
Cloud Nine Media, which also has offices in New York apart from its San Francisco head office, provides services to over 6,000 locations across the US and Canada, including airports, hotels, bars, restaurants and recreational hubs. The company's sponsored Wi-Fi sessions total over 6m a month.
Boingo's network consists of over 500,000 Wi-Fi hotspots in over 100 countries at venues such as airports, hotels, coffee shops, shopping malls, arenas, stadiums and quick service restaurants.Country: USASector: Advertising/PR, IT/Online ServicesTarget: Cloud Nine MediaBuyer: Boingo Wireless IncType: Corporate acquisitionStatus: Closed
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|Publication:||M & A Navigator|
|Date:||Aug 8, 2012|
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