TELUS Acquires PE-Backed Mobilicity for $380M
Restructuring mobile service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., has agreed to be acquired by Canadian telecommunications company TELUS Corp. for $380 million. The purchase price will be applied to repay all of the company's first and second lien debt, with the remainder being used to repay certain other unsecured debt securities. Mobilicity has since its founding in 2008 been backed by several private equity investors, including U.S. firm Quadrangle Capital Partners.
16 May 2013•4 mins read
