Airties, a leading provider of cloud-based managed Wi-Fi solutions to operators globally, announced its acquisition by US-based Providence Equity Partners for an undisclosed fee.
“Providence's investment will assist Airties with accelerating growth into new markets globally, as well as funding additional R&D and product innovation to continue delivering superior connectivity, and expanding its sales, marketing, and recruitment efforts globally," the company stated in its announcement.
“We have been impressed by the strength and quality of Airties' cloud-based managed Wi-Fi solutions and strongly believe its leading software offering, together with its deep expertise in integrating across hardware technologies and operator platforms, positions Airties as a preferred partner for broadband service providers," Michaël Vervisch, Managing Director at Providence, said.
Airties serves internet service providers with a combined footprint over 80 million households across the world, with clients including AT&T in the United States, Sky in the United Kingdom, Deutsche Telekom and Vodafone in Europe, and Telstra in Australia.
Providence Equity Partners is a premier private equity firm that specializes in growth-oriented investments in media, communications, education and technology.