The Cloud goes for European land grab

The Cloud wants to tap into European’s appetite for wireless broadband by extending its Wi-Fi network in Europe.

Backed by a €15 million (£11.8 million) investor-generated cash injection, the company is planning to aggressively grow its audience outside of its current 11-strong European country presence, where core business is focused on Denmark, Germany, the UK and Sweden.

The aim is to take advantage of a market it perceives to be “fragmented and primed for consolidation.”

“I think everyone appreciates how tough the capital markets are and I believe the timing of this investment is a strong endorsement of the business and its plans for international expansion,” said Steve Nicholson, The Cloud’s chief executive.

“The Cloud is pioneering the adoption of out of home wireless broadband and we are strongly positioned to deliver the ultimate mobile internet experience as the market moves towards critical user mass.”

The announcement comes on the same day that BT customers have been dealt the blow of no longer being able to access thousands of the company’s hotspots due to the two companies failing to agree on costs.

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