Remote Internet access service provider iPass Inc. announced plans Monday to acquire rival GoRemote Internet Communications Inc. for $76.5 million in cash.
iPass officials said the deal will help the company serve telecommuters and home office employees of large companies, which make up much of GoRemotes customer base. Currently, iPass primarily serves business travelers.
"Enterprise customers increasingly have been demanding a single source of secure broadband for all their mobile and remote employees worldwide," said Ken Denman, chairman and CEO of iPass. With the acquisition, "we will be able to provide enterprises a more complete solution for all their remote and mobile users," Denman said.
After the acquisition closes, Tom Thimot, GoRemotes president and CEO, plans to stay on with iPass as senior vice president of worldwide sales. The deal is due to close in the first quarter of 2006.