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Comcast Buys Wi-Fi Company Deep Blue Networks

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Comcast Buys Wi-Fi Company Deep Blue Networks

Comcast Corporation (NASDAQ: CMCSA) announced Wednesday that it bought Deep Blue Networks — an engineer, installer and manager of commercial Wi-Fi networks — for an undisclosed amount. 

What Happened 

The acquisition "allows Comcast to join the power and reliability of its advanced network solutions with intelligent, managed Wi-Fi that creates greater efficiency for businesses and differentiated experiences for customers," the cable giant said in a press release.

Deep Blue has made INC's list of the 5,000 fastest-growing companies for the last seven years and is a leading managed Wi-Fi provider for retail and entertainment venues, as well as a certified provider for several hospitality brands, according to the announcement. 

Why It's Important

"Customers will benefit from our expertise in advanced business and network solutions with Deep Blue Communications' know-how in providing commercial, managed WiFi at scale," Comcast Business President Bill Stemper said in a statement.

"We look forward to delivering innovative solutions that will drive competitive advantage and growth in key vertical industries such as hospitality and entertainment."

What's Next

Comcast shares were trading up slightly at $43.54 at the time of publication Wednesday. 

Related Links: 

Report: Comcast Might Sell Hulu Stake To Disney

Morgan Stanley Remains Bullish On Comcast 

Posted-In: Deep Blue CommunicationsM&A News Best of Benzinga

 

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