Arqiva is a communications and media services company who works with huge companies including the BBC, ITV, BSkyB and various major UK mobile networks, and now the prospective owner of the WiFi hotspot provider, Spectrum Interactive for £23.4 million.
Late last year Nokia temporarily partnered with Spectrum Interactive to launch 26 free hotspots across London, which joined various other hotspots across the UK, the deal was finished earlier today and is one Simon Alberga the Executive Chairman of Spectrum is extremely excited about as he said in his statement.
“Spectrum Interactive is a solid business built by our investors, executives and employees, and as an independent player we have created a truly relevant market proposition, 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. 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.”
Where not to sure what will happen after the acquisition but it’s likely that Arqiva will use it to better its own portfolio as well as using it to team up with various partners.
Via [The Next Web]