Google Acquires Hotspot Provider ICOA for $400M
CORRECTION: Google has early Monday denied rumors that it had acquired ICOA, which was reported as a result of a false press release.
Google today announced its acquisition of ICOA Inc. a provider of Wi-Fi to high traffic public locations. Google paid $400 million for the company, according to a press release.
ICOA bills itself as a "vertically integrated, neutral-host broadband wireless Internet network provider." The company delivers a suite of solutions for high-traffic public locations such as airports, marinas, restaurants and more. ICOA also provides back office solutions for hotspot operators and wireless service providers.
ICOA owns or operates broadband access installations in high-traffic locations across 40 states, located in airports, quick-service restaurants, hotels and motels, travel plazas, marinas etc. I
The acquistion comes as Google has been rumored to be in talks with multiple wireless providers, as part of its efforts to build a fixed line and wireless broadband infrastructure.