Posted by: youngragingbull | May 16, 2013

Telus to acquire Mobilicity for $380M

Telus has agreed to take over junior telecom rival Mobilicity in a deal worth $380 million.

Mobilicity launched in 2009 as an alternative to the major telecom players in Canada following a government auction of new spectrum, and had grown to more than 250,000 customers.

Formerly known as Data & Audio-Visual Enterprises Wireless Inc., Mobilicity offered low-cost wireless services in Toronto, Ottawa, Calgary, Edmonton and Vancouver.

The deal, which is expected to close this year, is pending approval by provincial and federal regulators.

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