PR firms have entered the fray as Boingo Wireless fends off a proxy challenge from activist hedge fund Ides Capital Management.
Sloane & Company is representing Ides, which has put forth two candidates for Boingo's board ahead of the wireless company's 2016 annual meeting. Managing director Dan Zacchei heads the work.
Ides said Boingo "has been dragging its feet" in talks as the hedge fund raps Boingo's governance and financial performance as "woefully poor" since its May 2011 IPO.
Boingo, working with Joele Frank, Wilkinson Brimmer Katcher for PR and Mackenzie Partners for proxy solicitation, said it is open to a continued dialog with Ides and welcomes the opportunity to interview its nominees to avoid a proxy contest. The company claims it has requested Ides facilitate interviews with its nominees and Boingo's board on seven occasions, but Ides has refused.
Joele Frank San Francisco chief Jed Repko reps Los Angeles-based Boingo.
Publicly traded Boingo, which provides Wi-Fi services and hotspots, posted revenue of $139.6M in 2015, up 17% over the prior year.