Having already established operations in 11 European countries, one of Europe's largest WiFi operators, The Cloud, is looking to increase its European presence following the injection of €15 million of investment cash.
The company, whose core business is focused on Denmark, Germany, the UK and Sweden, said it planned to use the cash to take advantage of a market it perceives to be fragmented and primed for consolidation.
"I think everyone appreciates how tough the capital markets are and I believe the timing of this investment is a strong endorsement of the business and its plans for international expansion," said Steve Nicholson, The Cloud's chief executive.
This upbeat statement came days after BT Openzone withdrew from negotiations over continuing to use thousands of The Cloud's WiFi access points in the UK. BT Openzone subscribers were informed by e-mail late last week that access to The Cloud's WiFi service would no longer be part of the Openzone service.
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