Rogers closes purchase of PE-backed Mobilicity for $465 mln

Rogers Communications Inc has completed its previously-announced acquisition of wireless operator Mobilicity, a.k.a. DAVE Holdings Inc, for about $465 million. Rogers, a telecommunications and media business, said it had received “all requisite governmental, creditor and court approvals” related to the deal. Based in Vaughan, Ontario, Mobilicity has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008. The company was also a portfolio investment of Canadian private equity firm Catalyst Capital Group, which helped to structure the acquisition by Rogers.

PRESS RELEASE

Rogers Completes Acquisitions of Mobilicity and Shaw AWS Spectrum

TORONTO, July 2, 2015 /CNW/ – Rogers Communications, a leading diversified Canadian telecommunications and media company, said that it received all requisite governmental, creditor and court approvals and has completed the acquisitions of both Mobilicity and Shaw’s AWS wireless spectrum as announced last Wednesday, June 24, 2015.

About the Company:

Rogers is a leading diversified Canadian communications and media company. We are Canada’s largest provider of wireless voice and data communications services and one of Canada’s leading providers of cable television, high-speed Internet and telephony services to consumers and businesses. Through Rogers Media we are engaged in radio and television broadcasting, televised shopping, magazines and trade publications, and sports entertainment. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).

SOURCE Rogers Communications Inc.

For further information:

Bruce M. Mann, (416) 935-3532, bruce.mann@rci.rogers.com

Photo courtesy of Reuters/Mark Blinch