Arma Partners has acted as exclusive financial adviser to Spectrum Interactive on its recommended acquisition by Arqiva Broadcast Holdings.
Arqiva, the communications infrastructure and media services company, has agreed terms with the board of Spectrum Interactive, a UK based Wi-Fi operator, for an offer to acquire 100 per cent of its shares.
The transaction will enable Arqiva to accelerate its wholesale business by acquiring the largest remaining independent Wi-Fi provider in the UK.
Demand for mobile data services is forecast to continue to rise by approximately 65 per cent per annum between 2011 and 2016. Public Wi-Fi has become an important element of the communications infrastructure as a result of this trend.
Arma Partners previously advised The Cloud on its sale to BSkyB.
