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ICOA denies it was bought by Google

by on27 November 2012

Press release was wrong

Yesterday Google released a press statement on one of its usual channels claiming that it was buying public Wi-Fi provider ICOA for $400 million.

The press release was posted on this wire, however, when CNET came to follow up the press release they were a little surprised to discover that ICOA executives denied it. COA Chief Executive George Strouthopoulos, insisted that the company has "never had any discussions with any potential acquirers."

He thinks that a stock promoter issued the press release in the hope of making a bit of a cash on some shares that he or she was sitting on. The matter is being reported to the cops.

The press release appeared to have been written by the same person who designed Nigerian scams, however it could equally have been a draft release which had not gone through the correct channels. What was interesting is that it was so plausible. ICOA is exactly the sort of company that Google would buy, and the price tag seemed reasonable.

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