Posted by: youngragingbull | June 7, 2013

Word on the Street: Two PE firms buy Public Mobile

Public Mobile has been purchased by Toronto-based Thomvest Seed Capital Inc., and Cartesian Capital, a New York-based private equity firm.

Terms of the deal were not disclosed.

The purchase comes just days after the Canadian government blocked the sale of another low-cost mobile services provider, Mobilicity, to Telus.

The federal government also delayed its wireless spectrum auction until January 2014. Ottawa says it wants to ensure there are at least four wireless carriers in each region of the country.



  1. SIDENOTE: After the deal was announced, the CEO of Wind Mobile expressed interest in merging with Mobilicity to effectively challenge the big 3 service providers in Canada.

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