June 6, 2013 / 12:37 PM / in 5 years

Canada's Public Mobile bought by venture capital, private equity firms

TORONTO, June 6 (Reuters) - Canadian telecom startup Public Mobile said on Thursday that it has been acquired by Thomvest Seed Capital, a Toronto-based investment vehicle backed by Peter Thomson, and private equity firm Cartesian Capital.

The terms of the deal were not disclosed.

Privately held Public Mobile, which provides mobile coverage for customers in Ontario and Quebec, also said it planned to participate in the government’s upcoming auction of 700 megahertz spectrum, bandwidth used for phone calls and data transmission.

Peter Thomson is chairman of Woodbridge, the Thomson family invstment company that owns a majority stake in Thomson Reuters Corp.

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