Google buys Wi-Fi provider ICOA for $400 million

Nov 26, 2012

Google has bought an operator of Wi-Fi hotspots in high-traffic locations such as airports, hotels and fast-food restaurants.

. is paying $400 million for ICOA Inc., a Warwick, Rhode Island, company, as part of the search company's efforts to diversify its portfolio.

UPDATE: Google acquisition release was hoax

ICOA owns or operates Wi-Fi services in 40 states. It also sells technology for others to run similar Wi-Fi networks under their own brands.

It's not Google's first venture into Internet access. The Mountain View, California, company is building an ultra-fast wired Internet service in Kansas City, primarily to showcase for what's technically possible and to test new ways to use the Internet.

Shares of fell $6.07, or 0.9 percent, to $661.90 in morning trading Monday.

Explore further: Creating the fastest outdoor wireless Internet connection in the world

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Google, Boingo offer New York free summer Wi-Fi

Jun 25, 2012

Google and wireless Internet group Boingo said Monday they would offer free Wi-Fi access over the summer months in many parts of New York City, including some busy subway stations.

Wi-Fi for travelers becomes Web marketing lure

Nov 10, 2009

(AP) -- Google, Yahoo, eBay and Microsoft, competitors on the Web, all have the same idea for marketing themselves this holiday season: temporarily providing free Wi-Fi access in airports, airplanes and public places.

Verizon gives free Wi-Fi to Internet customers

Jul 27, 2009

(AP) -- Verizon is giving some of its home broadband customers free access to thousands of Wi-Fi hotspots in airports and other public places, taking a page from competitors that already offer wireless Internet access.

Recommended for you

As dust clears, what's next for Sony?

6 hours ago

The Sony hacking attack continues to deliver more dramatic plotlines than any fictional movie, but meanwhile the movie studio must move forward and tackle the next steps in minimizing the mess. Will Sony ...

FAA, industry launch drone safety campaign

9 hours ago

Alarmed by increasing encounters between small drones and manned aircraft, drone industry officials said Monday they are teaming up with the government and model aircraft hobbyists to launch a safety campaign.

It's down to the wire for online shopping

9 hours ago

As the holiday shopping season winds down, FedEx, UPS and online retailers are using the last few days to try to avoid the problems that occurred last year when severe winter weather and a surge in late orders ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.