Boingo Wireless hired a former AT&T executive to help it identify new business opportunities, as the company presses ahead with a restructuring plan.
In a tweet, CEO Mike Finley revealed former AT&T VP of IoT Solutions and GM of its smart cities unit Michael Zeto had joined Boingo Wireless as SVP of global strategy and emerging businesses. Finlay said the executive would help the company to capitalise on its “unique position in the wireless industry”.
Zeto will focus on seeking out new opportunities around 5G, Wi-Fi 6, IoT and smart cities.
Prior to AT&T, Zeto was CEO of software company Proximus Mobility from 2010 until it was sold in 2013.
The appointment comes as Boingo Wireless presses ahead with a realignment initiative announced in December 2019, which aims to shift resources from legacy business lines to key growth opportunities as it looks to stem mounting losses.
In Q4 2019, the company booked a net loss of US$5.2 million, reversing a US$400,000 profit in Q4 2018, on revenue of US$64.1 million, down 5.5 per cent. Full year figures were even more stark, with net loss increasing from US$1.2 million in 2018 to US$10.3 million, on revenue of US$263.8 million, a 5.2 per cent rise.
On its earnings call, Finley confirmed reports the company was mulling a sale, received “multiple inquiries” about the move and had engaged advisers to evaluate any offers received. –Mobile World Live