History
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]
