Strata advises Billing Services Group on the sale of BSG Wireless to Single Digits

Transaction Summary

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Billing Services Group Limited (“BSG”, AIM:BILL) on the sale of its Wi-Fi technology business, BSG Wireless, to Single Digits, Inc. (“Single Digits”), a portfolio company of GI Partners.

BSG, a Bermuda company headquartered in San Antonio, Texas, USA, and listed on AIM (AIM:BILL), is a leading provider of telecommunications clearing and financial settlement products, Wi-Fi data solutions and verification services.

Following a competitive sale process, Strata Partners advised BSG on the sale of the assets of BSG’s wholly owned subsidiary, BSG Wireless Limited, to a subsidiary of Single Digits, a provider of Wi-Fi based services to the hotel and multi-dwelling unit (MDU) sectors based in Bedford, New Hampshire, USA.

The size of the transaction meant that the disposal of the assets of BSG Wireless was deemed to result in a fundamental change of business under AIM Rule 15 and, consequently, required shareholder approval. Strata negotiated a complex asset purchase agreement that reflected the multi-jurisdictional nature of the transaction (assets and employees in the US and UK, a US buyer and a US-headquartered, Bermuda registered and AIM-listed seller). The transaction was announced on 31^st January 2020 and closed on 28^th February 2020.