LAKE BLUFF, Ill., April 25, 2016 (GLOBE NEWSWIRE) -- Cobalt Holdings Inc., an emerging provider of wireless broadband network services optimized to meet exploding demand created by smartphones, social media, cloud and mobile computing, said today it has purchased the physical and IP assets of World Wi-Fi Network (WWN) and affiliated companies – one of the largest niche Wi-Fi hotspot operators in the Caribbean Region targeting cruise line passengers and crews. Terms were not disclosed.
Cobalt will integrate and operate these network assets in 13 Caribbean countries, with a plan to increase these Wi-Fi points of presence to over 5,000 sites within 24 months. The acquired sites primarily serve cruise ship passengers and crews – a 30 million customer annual market opportunity in the Caribbean.
As part of the transaction, Cobalt is also acquiring cruise and other travel-related content and marketing platforms it will utilize to accelerate revenue streams from advertising opportunities among cruise customers and crews, other visitors, and local businesses throughout the region. These efforts will expand Cobalt's marketing reach as part of the launch of Cobalt's new Wi-Fi brand to the ship's crew and passengers. The new Wi-Fi service also will be expanded to serve island enterprises, visitors and business travelers.
Cobalt is building out new commercial-grade Wi-Fi roaming networks throughout the Caribbean, combined with a strategy to own and develop key fiber-optic routes between the USA and key markets in the region. The Company's Accuris-based Wi-Fi platform includes "offload" solutions where social media platforms, mobile carriers, regional enterprises and other Wi-Fi networks are partnering with Cobalt to serve roaming customers while traveling. Customers also can sign up directly with Cobalt’s new app-based portal on their smartphones, tablets or devices.
Paul A. Moore, Cobalt’s Chairman and CEO, said, "This acquisition is a building block as we expand our reach and presence in the Caribbean Region. It demonstrates our commitment to bringing the next generation of affordable high-speed access to streaming, social media, apps, shopping, and online financial services to travelers and enterprises throughout the Caribbean.”
"We believe Cobalt is the best choice for implementing our original vision of creating the first real Wi-Fi roaming networks ever created in the Caribbean – networks that generate revenue through Wi-Fi services and advertising sales. We look forward to working with Cobalt to make this a reality for the benefit of local customers and economies in the region," said Christiaan Cilliers, principal of WWN.
About Cobalt Holdings
Cobalt Holdings, Inc. is a privately held wireless broadband development Company, with headquarters in Lake Bluff, Illinois. The Company is launching the first exclusive software-defined 4G/LTE and commercial-grade Wi-Fi wireless broadband networks in targeted markets in the Caribbean Region. The Company is acquiring strategic wireless spectrum, operating licenses and fiber-optic connectivity as part of a continued business development initiative to provide seamless wireless broadband coverage to enterprises, tourists, cruise ship passengers and crews, and local businesses, including major destination resorts throughout the Caribbean. The Company’s longer-term strategy for the region includes owning and operating key undersea fiber-optic networks between the U.S. and targeted island nations in the Caribbean. For more information, go to: www.cobaltholdings.net.
Source:Cobalt Holdings, Inc.