Digital Colony’s $854 Million Acquisition of Boingo

Simpson Thacher represented affiliates of Digital Colony Partners in the transaction. Paul, Weiss represented TAP Advisors as financial advisor to Boingo Wireless.

Digital Colony Partners signed its definitive agreement and plan of merger to acquire Boingo Wireless, Inc. (“Boingo”). Under the terms of the agreement, shareholders will receive $14 in cash per share of Boingo’s common stock in a transaction valued at $854 million, including the assumption of $199 million of Boingo’s net debt obligations. The transaction would result in Boingo transitioning from a public company to a privately held company. The closing of the deal is subject to customary conditions, including regulatory clearance and Boingo shareholder approvals. The transaction is expected to close in the second quarter of calendar 2021.

Boingo Wireless, Inc. (NASDQ: WIFI) is the leading distributed antenna system (“DAS”) and Wi-Fi provider that serves carriers, consumers, property owners and advertisers worldwide.

Digital Colony is a global investment firm dedicated to strategic opportunities in digital infrastructure. The firm was launched in 2018 by Digital Bridge Holdings, LLC, a leading investor in and operator of companies enabling the next generation of mobile and internet connectivity, and Colony Capital, Inc. (NYSE: CLNY) a leading global real estate and investment management firm.

The Simpson Thacher team representing Digital Colony included David Lieberman (Picture), Christopher May, Sung Jin and Zain Rifat (Corporate); Brian Gluck, Leah Nudelman and Simone Worthy (Credit); David Rubinsky, Joo Hyun Lee and Allison Sweeney (ECEB); Ryan Bekkerus, Jonathan Lindabury and Caitlin Wood (Capital Markets); Drew Purcell, Brian Mendick and Suzy Yaster (Tax); Lori Lesser, Genevieve Dorment and Bobbie Burrows (IP); Michael Isby (Environmental); and Dennis Loiacono (Real Estate).

Paul, Weiss represented TAP Advisors with corporate partner Bruce Gutenplan and counsel Scott Grader.

Involved fees earner: Scott Grader – Paul Weiss Rifkind Wharton & Garrison; Bruce Gutenplan – Paul Weiss Rifkind Wharton & Garrison; Ryan Bekkerus – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Sung Jin – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; David Lieberman – Simpson Thacher & Bartlett; Jonathan Lindabury – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Christopher May – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Leah Nudelman – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Zain Rifat – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Allison Sweeney – Simpson Thacher & Bartlett; Caitlin Wood – Simpson Thacher & Bartlett; Simone Worthy – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Simpson Thacher & Bartlett;

Clients: Digital Colony; TAP Advisors;

Author: Martina Bellini