Arqiva Broadcast Holdings Limited
Background and business issues
Arqiva is a specialist in communications infrastructure and media services operating in the broadcast, satellite and mobile communications markets.
Spectrum Interactive Limited is one of the UK's largest independent wi-fi operators with 15,500 access points in over 2,100 premium wi-fi locations in highly populated areas across hotels, restaurants and leisure outlets as well as airports, airline lounges, motorway service stations and public locations on high streets.
The growth in smartphones and mobile-enabled devices has driven an increase in demand for mobile data services. Arqiva considered Spectrum to be an important market participant in addressing such demand.
Our role and approach
The recommended cash offer for Spectrum Interactive was subject to the Takeover Code, as Spectrum had only recently delisted from AIM.
Deloitte acted as financial adviser to Arqiva. Our role included:
- assisting in negotiations with Spectrum;
- development of the funds flow;
- assisting in the preparation of the offer document and announcements; and
- regular liaison with the Takeover Panel.
The acquisition of Spectrum will enable Arqiva to accelerate the growth of its wholesale mobile data business.
The acquisition has made Arqiva one of the largest wi-fi hotspot providers in the UK.