Airties this week announced that its Board and principal shareholders, including Invus, an evergreen equity investor, have agreed to the acquisition of Providence, a premier private equity firm that specializes in growth-oriented investments in media, communications, education and technology.
Founded in 2004, Airties is a leading provider of cloud-based managed in-home Wi-Fi solutions, serving internet service providers (“ISPs”) with a combined footprint in excess of 80 million households across the world. Airties has consistently achieved strong organic revenue growth through significant client wins and by broadening its relationships with existing clients – including AT&T in the US, Sky in the UK, Deutsche Telekom and Vodafone across Europe, and Telstra in Australia.
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. As sector-focused investors with a history of partnering with innovative telecoms and technology companies, Providence is well-positioned to harness its expertise, network and resources to support Airties as it enters a transformative new chapter.
Philippe Alcaras, CEO of Airties
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.
Michaël Vervisch, Managing Director at Providence
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.
