Public Mobile bought by private equity firms

Nieuws Mobiel Canada 6 JUN 2013
Public Mobile bought by private equity firms
Canadian mobile operator Public Mobile has announced its acquisition by Thomvest Seed Capital, the Canada-based investment vehicle of Peter J. Thomson, and Cartesian Capital, a US-based private equity firm. With the acquisition, Thomvest and Cartesian invested the first tranche of a commitment to fully fund Public Mobile to a cash flow positive position, and Thomvest became the company's controlling shareholder. Further financial details were not released. 

Public Mobile is the latest of the new entrants that won spectrum in 2008 to seek new owners after failing to break through on the Canadian market. Mobilicity agreed to be acquired by the operator Telus, while Vimpelcom is reportedly seeking a buyer for Wind Mobile. 

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