The GMO Internet, Inc. has announced earlier today that it has acquired TownWiFi Inc., which will now become a consolidated subsidiary of GMO Internet.
The provider service was launched back in 1995. Since then GMO Internet Group has launched the Internet business under the corporate slogan “Internet for Everyone.”
As of today, GMO Internet Group is growing into a business group that comprehensively develops Internet Infrastructure, Online Advertising & Media, Internet Finance, and Cryptocurrency businesses.
Under the mission “delivery of barrier-free telecommunication,” since May 2016, TownWiFi has offered smartphone application “TownWiFi” for realizing seamless WiFi connectivity by automatically connecting a device to free Wi-Fi available nearby.
TownWiFi’s technological strengths and customer base can expect synergistic effects with GMO Internet’s
- provider services in the Internet Infrastructure segment and
- Online Advertising & Media segment, and TownWiFi can use the GMO Internet Group’s management expertise and brand image to acquire more users.
The GMO Internet Group expects that the above leads to the enhanced corporate value of both companies in the mid- to long-term, so the Group today has decided to acquire a stake in the TownWiFi.