Venture-Backed Fongo Makes Bid for Wind Mobile
Waterloo, Ontario-based Fongo Inc., a mobile telecommunications company, is seeking to acquire Wind Mobile Inc. While full details of the acquisition offer were not disclosed, Fongo proposed "a $1 purchase price and a 49% equity ownership stake in Fongo." The announcement followed reports that Wind Mobile's Dutch owner VimpelCom Ltd. plans to sell the Markham, Ontario-based wireless carrier. Fongo is a portfolio company of Canadian venture capital firm Tech Capital Partners. It is also backed by angel investor groups.
2 April 2013•3 mins read
