In a press release dated September 21 2018, the Ontario-based data security firm TeraGo announced that it will acquire all of the issued and outstanding shares of Mobilexchange Spectrum Inc. and its parent holding company Mobilexchange Holding Inc. for cash consideration of $5.6 Mn.
This acquisition was funded by TeraGo’s bought deal equity that closed early on this year.
Through this acquisition, TeraGo will be equipped with 24 GHz spectrum licenses totaling 960 Mhz (the Spectrum Licences), allowing the firm to strengthen its roots in six large Canadian cities covering approximately 3.1 billion Mhz-Pop.
“With the acquisition of MSI and their spectrum assets, TeraGo will be the primary license holder of 24 and 38 GHz fixed wireless spectrum in Canada’s major markets covering approximately 8.1 billion MHz-Pop1,” remarked Tony Ciciretto, President and CEO of TeraGo. “Since 1999, TeraGo has invested in spectrum equipment and technology to provide a competitive alternative to the larger wireline incumbent carriers. With the introduction of 5G technology and the increased bandwidth and capabilities it provides, the value of our millimeter wave spectrum assets will be further enhanced, greatly improving our overall competitiveness.”