Transaction|June 6, 2013
Public Mobile announces new ownership
Torys acted as counsel to Thomvest Ventures with a team that included Michael Akkawi, Guy Berman and Zack Newton (corporate), Amanda Balasubramanian and Will Hooper (financial services) and Omar Wakil (competition and antitrust).
On June 6, 2013, Public Mobile Inc. (Public Mobile) announced its acquisition by Thomvest Seed Capital Inc. (Thomvest) and Cartesian Capital Corporation (Cartesian). With the acquisition, which received the continuing support of ZTE Corp. and the Export-Import Bank of China, Thomvest and Cartesian invested the first tranche of a commitment to fully fund Public Mobile to a cash flow positive position, and Thomvest became the company's controlling shareholder.
Public Mobile Inc. is a wireless telecommunications provider, offering talk and text services in Ontario and Quebec.
Thomvest Seed Capital Inc. is the Toronto-based investment vehicle of Peter J. Thomson, specializing in start-up, early stage, and mid venture investments.
Cartesian Capital Corporation is a New York-based private equity and venture capital firm specializing in alternative investments.
Further information can be found on Marketwire's website.
Public Mobile Inc. is a wireless telecommunications provider, offering talk and text services in Ontario and Quebec.
Thomvest Seed Capital Inc. is the Toronto-based investment vehicle of Peter J. Thomson, specializing in start-up, early stage, and mid venture investments.
Cartesian Capital Corporation is a New York-based private equity and venture capital firm specializing in alternative investments.
Further information can be found on Marketwire's website.