Providence Agrees to Acquire Airties

• TransactionAims to Accelerate Smart Wi-Fi Adoption Globally
• Airties Looks to Expand into New Markets, Invest in R&D, Marketingand Recruiting
• Airties will continue to be led by CEO Philippe Alcaras

LONDON and ISTANBUL, April 27, 2024 /PRNewswire/ --Airties (the Company), a leading provider of cloud-based managed Wi-Fi solutions to operators globally, today announced that its Board and principal shareholders, including Invus, an evergreen equity investor, have agreed to the acquisition of the Company by Providence Equity Partners (Providence), a premier private equity firm that specializes in growth-oriented investments in media, communications, education and technology. Financial terms of the transaction were not disclosed.

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.