News Wire Feed Light Reading 3/1/2021
LOS ANGELES Boingo Wireless, Inc. ( Boingo or the Company ) (NASDAQ: WIFI), the leading distributed antenna system ( DAS ) and Wi-Fi provider that serves carriers, consumers, property owners and advertisers worldwide, announced today that it has entered into a definitive agreement and plan of merger to be acquired by an affiliate of Digital Colony Management, LLC ( Digital Colony ). Upon completion of the transaction, Boingo will transition from a public company to a privately held company.
Under the terms of the agreement, which has been unanimously approved by Boingo s Board of Directors, 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 approximately $854 million, including the assumption of $199 million of Boingo s net debt obligations. The acquisition price represents a 23% premium
Try as he might, Timotheus Höttges simply cannot enthuse shareholders about the performance of Deutsche Telekom, the company he manages. 2020 was a record year for Deutsche Telekom, he proclaimed on a call with reporters today, reeling off a list of impressive achievements. Sales and profits have soared, customer numbers have grown and dividends are still paid. Yet the German incumbent s share price remains about 5% lower than it was five years ago, when Höttges was far less ebullient.
Net debt remains a worry. At 120.2 billion (US$145.6 billion), it exceeds Deutsche Telekom s market capitalization by around 49 billion ($59.4 billion) and is outside its own safety zone. That constrains the company s ability to invest in higher-speed networks, acknowledged Christian Illek, its chief financial officer, although he expects leverage to fall in the next two to three years.
President Biden outlined the details of his executive order designed to prevent shortages of critical elements like chipsets across industries including telecom.
Judge s ruling in California could clear way for other states to follow suit ahead of expectations that the FCC will pursue new rules that were rolled back during the Trump administration.
It was only a matter of time.
A shortfall in the global supply of chipsets that has been affecting technology industries ranging from automotive to video games has now expanded directly into the telecom industry.
Optical networking company Infinera said the situation could cost it up to $10 million over the next three months.
During the company s earnings call with analysts, Infinera CEO David Heard said the company expects to score between $320 million and $340 million in revenue in its upcoming quarter, but those figures include a $10 million risk due to semiconductor shortages that are not unique to our industry. We are actively working every single day to mitigate that risk, explained CFO Nancy Erba, according to a Seeking Alpha transcript of the event. Teams are working really hard to do that. So we ve got it built into our outlook, and we re doing our best to mitigate it.