Arqiva Buys Wi-Fi Hotspot Provider Spectrum Interactive
Telecommunications and broadcast infrastructure provider acquires Spectrum Interactive for £23.4m in cash
Telecommunications company Arqiva is to enter the Wi-Fi hotspot market with its acquisition of service provider Spectrum Interactive.
It has agreed terms with the board of Spectrum Interactive to acquire all shares in the company for £23.4 million in cash. It is intended that all of Spectrum’s employees will make the transfer.
Arqiva, which also provides broadcast infrastructure, says that the deal will enable it to accelerate its mobile data business and take advantage of a growing market.
Wi-Fi hotspots
“The strategic fit of Spectrum with Arqiva is compelling and our customers and business will benefit from the 15,500 access points in over 2,100 premium Wi-Fi locations across hotels, restaurants and leisure outlets as well as airports, airline lounges, motorway service station and public locations on high streets,” said Nicholas Ott, managing director of government, mobile and enterprise at Arqiva. “We can accelerate the roll out of Arqiva’s wholesale mobile data offer, whilst enhancing services provided to Spectrum Interactive’s customers.”
Spectrum Interactive was a partner in Nokia’s free Wi-Fi scheme that used London phone boxes in hotspots, although the Finnish manufacturer withdrew from the project in May.
“Our customers and business will continue to be well served by this acquisition, and Arqiva’s acquisition of Spectrum Interactive will ensure that our organisation will continue to lead and flourish in what is a highly innovative and competitive market,” commented Simon Alberga, executive chairman of Spectrum Interactive. “The Board believes this is an attractive offer for Spectrum Interactive shareholders and the transaction is in the best interest of all stakeholders in Spectrum Interactive.”
“Accordingly, the Board unanimously recommends to shareholders the acquisition of Spectrum Interactive by Arqiva,” he added.
Last week, BT announced that it was merging its BT Fon and Openzone Wi-Fi hotspot services into one brand, BT Wi-Fi.
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