Shaw acquires Wind Mobile for $1.16 billion
18 December 2015 |
Shaw Communications is to acquire Wind Mobile, Canada’s fourth largest mobile operator, for $1.16 billion (C$1.6 billion).
The Canadian operator said the acquisition reflects the evolving global telecoms landscape which is evolving towards mobile-first product offerings.
“The acquisition of Wind provides Shaw with a unique platform in the wireless sector which will allow us to offer a converged network solution to our customers that leverages our full portfolio of best-in-class telecom services, including fibre, cable, Wifi, and now wireless," said Brad Shaw, CEO of Shaw.
"This transaction represents a transformational step in the history of Shaw and we are excited about our future growth prospects in mobile. This growth will be accelerated by combining Shaw's existing customer relationships, trusted brand and wireline and WiFi infrastructure with Wind’s impressive asset base, including its existing spectrum position and mobile network."
The combined entity will better compete with the scale of its rivals such as Rogers Communications, Bell Canada and Telus. The deal, subject to regulatory approvals, is expected to close in the third quarter of fiscal 2016.
The acquisition follows Rogers Communications’ purchase of Mobilicity in June 2015. Rogers bought the smaller operator for $355 million following a court approval, acquiring its 940,000 subscribers in Canada’s five urban markets including Toronto, Ottawa, Calgary, Edmonton and Vancouver.