Ever since Telus dropped its plans to acquire Mobilicity, there have been rumors of other would-be suitors joining the fray. They're not rumors anymore -- Mobilicity has confirmed that it's in talks with "multiple parties" interested in a takeover. The Canadian carrier isn't supplying any names, although previous gossip has mentioned Verizon as a possible candidate. There's no guarantee that Mobilicity will find a buyer and avoid an otherwise uncertain future; even so, we wouldn't count on the provider remaining independent for much longer.
[Image credit: Andrew Currie, Flickr]
Mobilicity adjourns debtholder vote on recapitalization plan, pursues acquisition plan of arrangement
Toronto, ON – July 10, 2013 – Data & Audio-Visual Enterprises Holdings Inc. and its affiliates (collectively, Mobilicity) announced today that it has adjourned the debtholder vote on the previously announced recapitalization plan. Consistent with the pursuit of all of its strategic alternatives, the Company has the right to reconvene the recapitalization plan vote on notice to its debtholders.
Mobilicity also announced today that it is in discussions with multiple parties in connection with an acquisition plan of arrangement.
Stewart Lyons, Mobilicity's President and COO said, "We are working diligently to reach an acquisition agreement and thank our customers, dealers, employees and partners for their continued support as we see this process through to its completion."
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.