RTTNews | Mar 1, 2021 09:35AM EST

09:35 Monday, March 1, 2021 (RTTNews.com) - Boingo Wireless Inc. (WIFI) said that it agreed to be acquired by an affiliate of Digital Colony Management LLC. Upon completion of the transaction, Boingo will transition from a public company to a privately held company.

As per the terms of the deal, Digital Colony will acquire all the outstanding shares of Boingo common stock for $14.00 per share in cash through a merger, in a transaction valued at about $854 million, including the assumption of $199 million of Boingo's net debt obligations.

The acquisition price represents a 23% premium to Boingo's closing price of $11.40 on February 26, 2021.

The transaction is expected to close in the second quarter of 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3173869/boingo-wireless-agrees-to-be-taken-private-by-digital-colony-in-854-mln-deal.aspx)

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