LodgeNet Acquires Hotel Broadband Firm StayOnline for $15 Million

Authored by Mark Hefflinger on November 15, 2006 - 2:58pm.

Sioux Falls, S.D. - LodgeNet, a provider of in-room broadband and interactive entertainment to hotels, announced on Wednesday that it will acquire the assets of StayOnline, an Atlanta-based provider of hotel broadband, for $15 million in cash.

Upon the expected closing of the deal in the first quarter of 2007, LodgeNet will have increased its current base five-fold, to 175,000 U.S. hotel rooms. StayOnline is a preferred or approved broadband provider for Marriott, Hilton, Starwood, Omni, Intercontinental and Historic Hotels.

"We believe this transaction leverages the focus both of our organizations have on quality, combining StayOnline's engineering, installation, and 24x7 customer help desk operations with our nationwide technical service organization," said LodgeNet president and CEO Scott Petersen.

Related Links:
http://biz.yahoo.com/prnews/061115/cgw029.html?.v=81
http://www.lodgenet.com
http://www.stayonline.net