– Formed in 2003, The Cloud Networks is Europe’s leading independent public access Wifi operator
– The Company offers managed services on customer premises, hospitality services and airtime as well as resale / wholesale which allows MNOs and fixed line service providers to bundle WiFi access with services
– Formed in 1990 British Sky Broadcasting Group, provides pay television communication services in the United Kingdom and Ireland
– It is the largest pay-TV broadcaster in the United Kingdom with over 10 million subscribers
– Offers in-house and third parties’ channels to direct-to-home (DTH) customers
– Offers broadband and voice communications
– Sky will be able to substantially accelerate deployment of The Cloud Wifi footprint
– The Cloud will enhance Sky’s strategic positioning relative to the mobile operators and other broadband providers given the importance of WiFi in alleviating 3G bandwidth constraints
– The acquisition will allow Sky to provide a mobile access offering in addition to home broadband, telephone and TV packages
– Arma Partners was engaged by The Cloud’s shareholders to evaluate the company’s strategic options
– Arma Partners extensively pre-marketed the deal with selected strategic buyers to ensure maximum preparedness when the process was launched
– Arma approached all the key buyers in the market creating competitive tension for its client
– Arma Partners’ relationships with potential buyers were important in the successful execution of the transaction
– The sale of The Cloud demonstrates Arma’s depth of coverage within converging services and mobile broadband