Pending regulatory approval, WIND Mobile will be controlled by Tony Lacavera’s investment company Globalive Capital.
News of this transaction was reported yesterday and the funding was received by West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity, and Novus Wireless Communications, who will take over ownership of Vimplecom’s “direct and indirect debt and equity interests in WIND Mobile.”
Financial terms were not disclosed in the company’s press release, but Reuters is reporting the acquisition is estimated to be valued at about $135 million ($122 million USD).
“With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase. WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come,” said Lacavera.
In 2008 Globalive, along with Orascom Telecom, invested $442 million into the 2008 AWS spectrum auction to set up its wireless business in Toronto, Ottawa, Calgary, Edmonton & Vancouver. WIND Mobile currently has “750,000 happy customers.”
“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”
[source] Marketwired [/source]
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