Wikipedia

Boingo Wireless

Boingo Wireless, Inc. is an American company that designs, builds and manages wireless networks. Its public and private networks include distributed antenna systems (DAS), small cells, macro towers and more than one million Wi-Fi hotspots around the world. The company operates networks for airports, transit stations, stadiums, military bases, hospitals and commercial properties.[2] In December 2022, the company announced it was moving its headquarters to Frisco, Texas, and would maintain regional offices in Los Angeles, New York, Chicago and Las Vegas.[3] The company was listed on the Nasdaq until it was acquired by investment firm Digital Colony Management LLC in 2021.

Boingo Wireless, Inc.
Company typePrivate
Nasdaq: WIFI
IndustryTelecommunications, Wireless, Technology
Founded2001; 23 years ago (2001), in Los Angeles, California
FounderSky Dayton
Headquarters10960 Wilshire Blvd.
23rd Floor
Los Angeles, California[1]
Key people
Mike Finley (CEO)
ProductsWireless broadband technology and services for large public venues including Wi-Fi, distributed antenna systems (DAS) and small cells
Websitewww.boingo.com

History

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In 2001, Earthlink co-founder Sky Dayton founded Boingo to address the then-fragmented state of Wi-Fi networks.[4] He said he saw how Wi-Fi "could help make the Internet as ubiquitous as the air we breathe".[5]

In March 2007, Boingo acquired Concourse Communications Group, which extended Boingo's services into Wi-Fi and cellular DAS networks at airports.[6] [7]

On November 10, 2008, Boingo acquired Opti-Fi Networks’ Wi-Fi holdings, adding another 25 airport Wi-Fi networks to its portfolio of managed locations and bringing its total of airport Wi-Fi networks to 55.[8]

On May 4, 2011, Boingo Wireless went public, giving the company a market cap of approximately $439 million. The stock price dropped soon afterward, and Boingo's IPO was initially viewed as "less than auspicious",[9] but the stock recovered a year later to its IPO price.[10]

On August 8, 2012, the company acquired Cloud Nine Media, thereby adding advertising services for sponsored Wi-Fi.[11]

On February 21, 2013, the company acquired Endeka Group, a provider of Wi-Fi and IPTV services to military bases and federal law enforcement training facilities.[12]

In November 2013, Boingo announced contracts with the US Air Force, US Army, and US Marines Corps to install IPTV and broadband access networks on their posts.[13]

In September 2013, Boingo announced the acquisition of its largest competitor, Advanced Wireless Group (AWG).[14] At the time of the announcement, AWG operated networks at 17 US airports, including Logan Airport (BOS), Detroit Metropolitan Airport (DTW), Los Angeles International Airport (LAX), and Miami International Airport (MIA). Boingo announced that the combined entity would operate in 60 percent of North America's top 50 airports and more than 40 percent of the world's top 50 airports, reaching more than 1.4 billion passengers annually.[15]

In February 2014, Boingo launched Passpoint Secure hotspot service at 24 US airports, including LAX, Chicago's O'Hare, and New York's JFK and LaGuardia airports.[16] In June 2014, the company partnered with American Express to offer its Platinum card holders free wireless access.[17]

In April 2015, Boingo struck a deal with wireless carrier Sprint Corporation to offload the carrier's customer traffic onto Boingo's Wi-Fi networks at 35 US airports. The deal was reportedly struck to improve Sprint's network performance.[18]

In March 2016, Boingo was subject of a proxy fight when concerns were raised about Boingo's financial performance and the lack of diversity in Boingo's board of directors.[19][20] A June 2016 settlement ended this proxy fight and Boingo added three directors to their board, including Kathleen Misunas who was the first female board member at Boingo since the company's founding.[21][19]

As of November 2017, Boingo's market capitalization stood at $1.02 billion.[22]

In July 2018, Boingo deployed a private LTE network using the shared 3.5 GHz Citizen's Broadband Radio Service (CBRS) at Dallas' Love Field Airport.[23] In August, the company acquired Charleston, South Carolina-based multifamily and student housing Wi-Fi provider Elauwit Networks.[24] In November, Boingo announced that it had been selected by the Metropolitan Transportation Authority (MTA) of New York to build and maintain wireless services for the Long Island Rail Road (LIRR) Atlantic Branch and Grand Central Terminal's upcoming East Side Access facility. The two DAS facility deals were reportedly the largest in the company's history.[25]

In February 2019, Boingo expanded a Wi-Fi roaming agreement with AT&T. The deal was designed to offer AT&T subscribers a seamless and complimentary Wi-Fi connection on Boingo's Passpoint-certified networks.[26] In March, CEO David Hagan retired and was replaced by Mike Finley, a former Qualcomm executive.[27] In August, wireless carrier Verizon announced it was partnering with Boingo to bring the carrier's 5G service to indoor public spaces such as stadiums, airports and hotels.[28] In December, the company announced it had realigned its business to focus on higher growth opportunities it was seeing with DAS, carrier offload, military and multi-family housing.[29]

On March 1, 2021 Boingo Wireless Inc. announced that they would be entering into an agreement with Boca Raton, Florida-based investment firm Digital Colony Management LLC to be acquired for an all-cash transaction valued at approximately $854 million.[30][31] According to a related company press release, the transaction was still pending shareholder approval, regulatory approvals and closing conditions.[32] The transaction completed in June 2021 and the company's stock was delisted from Nasdaq.[33]

On May 27, 2021 Boingo sold off their Multifamily Business to RealPage.[34] The Multifamily Business had been acquired as Elauwit Networks in 2018.[24]

Also in 2021, Boingo launched a private network for the staff at Petco Park in San Diego, home of the Padres baseball team.[35] In October 2022, the company announced it was opening a Boingo Innovation Center in Las Vegas, to demonstrate different wireless technologies.[36] In December 2022, the company announced it was moving its headquarters to Frisco, Texas, and would maintain regional offices in Los Angeles, New York, Chicago and Las Vegas.[3]

Products and services

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Boingo acquires long-term wireless rights in large venues like airports, military bases, and stadiums; builds DAS, Wi-Fi, and small cell networks to serve those areas; and monetizes those networks through advertising, carrier fees, or user charges.[24][37] Its business is divided into higher growth core and legacy business lines and includes the following:[29]

  • 5G – Boingo works with Tier One carriers to deploy 5G networks at major airports, stadiums, military bases, hospitals and commercial properties.[38]
  • Private Networks – Boingo deploys private LTE networks that operate independently of public networks.[38]
  • Distributed antenna system (DAS) - Boingo designs, builds and maintains DAS networks for carriers, to improve cellular coverage in buildings. As of November 2019, Boingo has reportedly deployed 37,200 nodes and claims to be the largest indoor DAS provider in the United States.[39] Its DAS deployments include Chicago's O’Hare International Airport, the Holland and Lincoln Tunnels in New York City,[40] and the Oculus World Trade Center Transportation hub.[41]
  • Wi-Fi Offload - Boingo sells wireless carriers the ability to offload their licensed network traffic onto unlicensed spectrum.[18]
  • Small cell - Boingo designs and manages small cell networks in venues and sells carriers access to the network. Small cells act as an extension of a macro cellular network and provide more cellular coverage and capacity.[42]
  • Boingo Broadband - Boingo provides residential high-speed wireless Internet and IPTV services for troops stationed on US military bases, plus Japan and South Korea.[43][44]
  • Loyalty programs – Consumer brands, such as American Express and Mastercard, offer free Boingo Wi-Fi access to members as part of their card benefits.[17][45]
  • Platform services - Boingo licenses its proprietary software, and provides software integration and development services to customers, allowing them to sell their own Wi-Fi services.[46]
  • Roaming services - Boingo sells roaming services across a network of over 1 million hotspot locations to business partners, who use this service to provide mobile Internet services to their customers.[47] The company integrates Hotspot 2.0 technology, also known as Passpoint, allowing users to automatically connect when within range of free Wi-Fi service.[48] Through a roaming deal with Time Warner Cable (now known as Charter Spectrum) announced and launched in 2014, this technology allows newer smartphones with Wi-Fi Alliance-certified Passpoint clients to move between and automatically connect to networks operated by both companies.[49]
  • Turn-key Wi-Fi solutions - Boingo sells turn-key Wi-Fi solutions to venue operators, including installation, management, and operation.[50]
  • Retail Wi-Fi - Boingo sells Wi-Fi access to end users at a network of managed and operated Wi-Fi hotspots and third party locations around the world.[51]
  • Boingo Media - Boingo sells advertising on its Wi-Fi platform. Consumers can receive free Wi-Fi in exchange for watching an ad.[52]

Awards and recognition

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References

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  1. ^ "Location". boingo.com. Retrieved 2017-02-27.
  2. ^ "Form 10-K Boingo Wireless, Inc". SEC. March 1, 2021. Retrieved September 6, 2021.
  3. ^ a b "Boingo Wireless to create 250 jobs at The Star in Frisco as it relocates HQ". Dallas News. December 19, 2022.
  4. ^ "Day 2 at 802.11 Planet Conference". Wi-Fi Networking News. 2002-12-04. Retrieved 2014-02-18.
  5. ^ "Sky Dayton, founder of Boingo Wireless - Where are they now?". FierceWireless.com. June 18, 2013. Archived from the original on 2014-05-02. Retrieved 2014-04-25.
  6. ^ Ron (2006-05-22). "Boingo Wireless Acquires Airport Cellular, Wi-Fi Operator Concourse Communications". Wi-Fi Networking News. Retrieved 2014-02-18.
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  9. ^ "Boingo Wireless IPO Finds Lukewarm Reception On Day One". Forbes. 2011-04-05. Retrieved 2014-02-18.
  10. ^ "Gogo Files For $165 Million IPO". Benzinga.com. 2013-06-10. Retrieved 2014-04-25.
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  16. ^ "Now Arriving: A Better Airport Experience". Airport Business. 2014-10-01. Retrieved 2017-02-27.
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  18. ^ a b "Sprint makes Wi-Fi the 'fourth layer' of its network with new Boingo deal, small cell push and Wi-Fi router". fiercewireless.com. 2015-04-30. Retrieved 2017-02-27.
  19. ^ a b Picker, Leslie (2016-10-04). "Hedge Fund Targets Companies' Weakness: The Gender Gap". The New York Times. ISSN 0362-4331. Retrieved 2021-05-21.
  20. ^ Benoit, David (2016-03-24). "Activist Investor Ides Capital Seeks Seats on Boingo Wireless Board". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-05-21.
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  25. ^ "Boingo Skirts Tech Sell-Off as New York Transit Deal Spurs Gain". bloomberg.com. 2018-11-20. Retrieved 2018-12-19.
  26. ^ "AT&T customers can now get free Wi-Fi on Boingo's Passpoint networks". CNET. 2019-02-21. Retrieved 2020-02-10.
  27. ^ "Boingo names Finley new CEO to replace retiring Hagan". fiercewireless.com. 2019-02-24. Retrieved 2019-03-04.
  28. ^ "Verizon just announced a partnership with Boingo to solve its biggest 5G problem". The Verge. 2019-08-22. Retrieved 2020-02-28.
  29. ^ a b "Boingo thins ranks as part of realignment". Mobile World Live. 2019-12-14. Retrieved 2020-02-10.
  30. ^ "Boingo Wireless is sold for $854 million". The Business Journals. 2021-03-01. Retrieved 2021-03-04.
  31. ^ "WIFI/Digital Colony Management: Digital Colony to Acquire Boingo Wireless in $854M Cash Transaction; Material Adverse Cap on Divestitures; $19.6M, $32.7M Termination Fees". Reorg. 2021-03-01. Retrieved 2021-03-04.
  32. ^ "Boingo Wireless to Be Acquired by Digital Colony". Telecompetitor. March 4, 2021. Retrieved March 11, 2021.
  33. ^ "Digital Colony Completes Acquisition of Boingo Wireless" (Press release). Business Wire. June 2, 2021.
  34. ^ "M&A Advisory: RealPage Has Acquired Boingo's Multifamily Business From Boingo". Stephens. 2021-05-27. Retrieved 2024-08-29.
  35. ^ "Boingo scores CBRS deal with San Diego Padres | Fierce Wireless".
  36. ^ Tomás, Juan Pedro (March 23, 2022). "Boingo Wireless opens innovation center in Las Vegas".
  37. ^ "Boingo Wireless: Leading the Small Cell Revolution" (PDF). Shareholder.com. 2014-12-02. Archived from the original (PDF) on 2014-12-18. Retrieved 2014-12-18.
  38. ^ a b TeckNexus, Hema Kadia (April 20, 2022). "5G for Transportation | 5G Magazine".
  39. ^ "Boingo Wireless, Inc. (WIFI) CEO Mike Finley on Q3 2019 Results - Earnings Call Transcript". seekingalpha.com. 2019-11-08. Retrieved 2020-02-10.(subscription required)
  40. ^ "CEO: Boingo in discussions with 'multiple carriers' to densify networks". fiercewireless.com. 2016-11-07. Retrieved 2017-02-28.
  41. ^ "When it Comes to DAS, World Trade Center Sets its Sights High". aglmediagroup.com. 2014-08-13. Retrieved 2017-02-28.
  42. ^ "Stadium Tech Report: Boingo, AT&T answer call for more DAS bandwidth at Chicago's Soldier Field". MobileSportsReport.com. 2013-12-26. Retrieved 2014-04-30.
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  48. ^ "Wi-Fi roaming starts to take flight with Hotspot 2.0". PCWorld. February 24, 2014. Retrieved 2014-04-30.
  49. ^ "Time Warner Cable, Boingo turn on Hotspot 2.0". GigaOM.com. 2014-12-17. Retrieved 2014-12-18.
  50. ^ "Turnkey Hot Spots". WiFiNetnews.com. 2002-11-18. Retrieved 2017-02-27.
  51. ^ "Boingo Wi-Finder (for iPad)". PC Magazine. 2012-11-16. Retrieved 2017-02-28.
  52. ^ "Boingo's Cloud Nine deal shows how public Wi-Fi is changing". FierceWireless.com. 2012-08-08. Retrieved 2014-04-30.
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  57. ^ "GT Tested Reader Survey Awards 2017". GlobalTravelerUSA.com. 2017-12-01. p. 16. Retrieved 2017-12-28.
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  61. ^ "Leading Lights 2016 Finalists: Most Innovative Wireless Service (3G, 4G, Carrier WiFi)". lightreading.com. 2016-05-22. Retrieved 2017-02-28.
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