Wi-Fi solutions company Airties has announced its acquisition by Providence Equity Partners for an undisclosed fee.
Founded in 2004, Airties has established itself as a leading provider of cloud-based managed in-home Wi-Fi solutions. Since 2010, investment firm Invus has held the company.
A footprint of 80 million households across the world includes clients including AT&T in the United States, Sky in the UK, Deutsche Telekom and Vodafone across Europe, and Telstra in Australia.
Philippe Alcaras, the CEO of Airties who will remain in post, said: “We are proud of the leadership position we have achieved and thank our Board and investors for supporting us on this journey. We are excited to work with Providence as Airties continues to build momentum and enter the next stage of its growth journey. We could not have found a better partner to help us accelerate our development globally.”
Providence’s will assist Airties with moving into new markets, as well as funding additional R&D and product innovation.
Michaël Vervisch, Managing Director at Providence, said: “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.
