Arma Partners has acted as exclusive financial advisor to The Cloud Networks Limited (The Cloud) on its sale to BSkyB for less than GBP50m.
The Cloud is Europe’s leading independent public WiFi operator, with a market-leading managed and hospitality services platform in the UK and Germany including venues such as Pret A Manger, McDonalds and Wetherspoons. Sky is in a strong position to leverage The Cloud through accelerated expansion of the public WiFi footprint and by extending The Cloud’s offering to Sky’s existing customers, enabling high-speed broadband access outside the home.
Public WiFi technology is gaining in strategic importance due the explosion in demand for high performance uncongested broadband data access outside the home and office. The sale of The Cloud demonstrates Arma’s focus on developments in converging services and mobile broadband. It is also a further milestone in the development of Arma Partners’ Global Communications practice, building on previous transactions involving key industry players including Easynet, BSkyB, freenet, Strato, Deutsche Telekom, Vodafone and United Internet, and again demonstrates Arma Partners’ ability to provide market-leading, seamless advice on transactions which span the Technology, Media & Telecommunications (TMT) spectrum.
Closing of the transaction is subject to regulatory approvals.
