Spectrum of opportunity as Arqiva agrees acquisition with Wi-Fi firm
Editor ©RapidTVNews | 02-07-2012
UK broadcast infrastructure and media services company Arqiva has agreed buy-out terms with Wi-Fi operator Spectrum Interactive in a deal worth £23.4 million.
On completion of the transaction, intended to see all employees of Spectrum Interactive join the infrastructure firm, Arqiva will accelerate its wholesale mobile data business by having a scalable Wi-Fi portfolio from which it can tap into the huge growth in smartphones and mobile enabled devices and the associated demand for mobile services.
"The acquisition of Spectrum Interactive positions Arqiva as one of the UK’s largest Wi-Fi hotspot providers and uniquely we would be the only wholesale provider with no associated retail service. We are well placed to help define the Wi-Fi space …allowing us to individually tailor services for our customers to meet the growing demand for data capacity,” said Arqiva CEO John Cresswell commenting on the deal.
"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,”added Simon Alberga, Executive Chairman, Spectrum Interactive.