Shaw Communications announces plans to acquire Wind Mobile

Canada's Shaw Communications has announced plans to acquire Wind Mobile, aiming to dip its toes into the wireless market. Shaw, which currently provides cable and internet services, says that it hopes the $1.6 billion deal will help it tackle an increasingly "mobile-first" media landscape:

"The global telecom landscape is quickly evolving towards 'mobile-first' product offerings as consumers demand ubiquitous connectivity from their service providers. The acquisition of WIND provides Shaw with a unique platform in the wireless sector which will allow us to offer a converged network solution to our customers that leverages our full portfolio of best-in-class telecom services, including fibre, cable, WiFi, and now wireless," said Chief Executive Officer, Brad Shaw.

According to the press release, Wind currently serves around 940,000 subscribers in Ontario, British Columbia and Alberta, so it will be quite the first step for Shaw. The deal is still subject to approval by Canada's regulatory agencies, and Shaw expects to close the transaction in the third quarter of fiscal 2016.

Source: Shaw Communications