Arqiva’s offer for Spectrum Interactive agreed

Arqiva Broadcast Holdings’ all-cash offer to buy Spectrum Interactive has been declared unconditional. Just over 94 per cent of Spectrum’s shares had accepted Arqiva’s terms.

In essence, Arqiva offered £23.4 million to buy Spectrum, a UK supplier of WiFi hot-spot technology and facilities.

The deal makes Arqiva, already the dominant supplier of TV bandwidth in the UK, one of the major WiFi players, and a direct competitor to BT and Virgin Media.