Public Mobile is one of the new wireless entrants to coming into Canada and is expected to laucnh within the next few months. They invested $53 million to obtain the commercial G Band license that reaches 19 million people in Ontario and Quebec (Windsor to Quebec City) and will offer unlimited talk and text packages for $40 month.
Formally named BMV Holdings, Public Mobile has been supported by Canadian investments such as a $50 million investment from OMERS Private Equity and now an unannounced amount from Peter Thomson, Fred Eaton, Patrick Brigham and a few Public Mobile employees.
Peter Thomson, President of Thomvest Seed Capital Inc. (who also now joins the Board of Directors) said “We chose to invest in Public Mobile because of its unmatched cost structure, sound business plan and proven Canadian management team”.
Alek Krstajic, Public Mobile’s Chief Executive Officer stated “A good, solid company will always attract Canadian investors. The support of successful Canadian entrepreneurs and investors highlights the importance of creating a more competitive wireless market in this country. It’s deeply touching to see the people who work for Public Mobile so firmly behind this company. I believe it represents the feelings of so many Canadians – that it’s time for a change in the wireless industry.” (more…)