Google did not pay $400 million for wireless internet network provider ICOA

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Google had allegedly taken a big step in becoming a more powerful internet service provider. It was announced that Google paid $400 million for ICOA. ICOA is described as a “provider of Wi-Fi to high traffic public locations.” These locations included airports, hotels, parks, restaurants, various hotspots and more. The problem is that the press released provided by PR Web announcing the acquisition is not real.

ICOA executives have told AllThings D and CNET that it has not been sold to Google.

ICOA Chief Executive George Strouthopoulos told CNET, “Someone, I guess a stock promoter with a dubious interest, is disseminating wrong, false and misleading info in the PR circles. “ICOA will report this to the proper authorities.”

The press release said Google would obtain Wi-Fi hotspot access in 45 states. Although it wouldn’t be too surprising if Google were to ever do such a thing, Google just hasn’t made anything official yet.

Source [PR Web]

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