- Telco offloads small minority stake in Boingo.
- US wireless internet service provider recently subsumed by Digital Colony.
BT Group confirmed it has shed a residual, “non-strategic” stake in US-based wireless service provider Boingo Wireless.
The divestment came as part of Boingo’s acquisition by the infrastructure investment group Digital Colony last week.
“ BT had a small non-strategic equity stake in Boingo Wireless and as a result of its recent acquisition we no longer have that equity stake.”
— BT spokesperson.
BT’s holding in Boingo stood at 1.915% at 31 March 2020. Its level of proceeds from the sale has not been confirmed, but may not have been inconsiderable as Digital Colony’s acquisition valued Boingo at around $854m (£604m/€702m).
The origins of the stake are unclear, too. Boingo and BT have a long-running Wi‑Fi roaming relationship relating to the Group’s BT Wi‑Fi service, stretching back to 2005, and the provider has come up in the past as a competitor to BT on enterprise wireless deployments (BTwatch, 2005.09). The two businesses both have seats on the Board of Directors of the Wireless Broadband Alliance, focused on Wi‑Fi interoperability and user experience enhancement.