Boingo Wireless, the leading distributed antenna system (DAS) and Wi-Fi provider that serves carriers, consumers, property owners and advertisers worldwide, recently announced that it has entered into an agreement and plan of merger to be acquired by an affiliate of Digital Colony.
Under the terms of the agreement, Digital Colony will acquire all the outstanding shares of Boingo common stock for $14.00 per share in cash through a merger, in a transaction valued at approximately $854 million, including the assumption of $199 million of Boingo’s net debt obligations. The acquisition price represents a 23% premium to Boingo’s closing price of $11.40 on February 26, 2021.
