The wireless startup Wind Mobile may soon change hands. Fongo, part of Fibernetics group HQ in Cambrdige ON, released this morning a press released detailing the bid. Fongo Inc. offers is to pay $1 and swap 49 per cent of its equity for control of the start-up wireless carrier. Wind Mobile biggest shareholder is VimpelCom; whom had made clear they want to sell their Canadian unit.
Dutch VimpelCom is one of the largest telecommunications services conglomerates (serving landline and mobile) in the world. Brands that VimpelCom operate are under the names of: “Beeline”, “Kyivstar”, “djuice”, “Wind”, “Infostrada” “Mobilink”, “Leo”, “banglalink”, “Telecel”, and “Djezzy” across 18 countries and 3 continents.
Fongo Inc. is known as a VOIP (Voice Over-IP) provider in the Canadian market. Fongo launched in 2011 offering a VOIP Home Phone and dialer apps for Smartphones. Over 2012 Fingo as converged the services formerly provided by Freephoneline.ca and dellvoice.ca. To check Fongo’s VOIP services click here. Largely known as a free service, partly Fongo makes money is by charging long distance fees.
Its estimated Wind Mobile has 600,000 subscribers; Fongo, reportedly to be around 250,000 subscribers. The combined company will have the ability to bundle Home Phone and mobile services, pretty much as Globalive did in the early Wind Mobile days with its Yak Home Phone services.
Though VimpelCom’s takeover of Lacavera shares have to be approved, which whom would take majority control. In that case the bid from Fongo Inc may be accepted. Yet still may face competition from the former Wind Mobile Canada’s CEO Anthony Lacavera itself. In a press conference last week Lacavera said if VimpelCom will sell I’ll be at the table biding.
One way or the other looks like we are closer to a re-birth of Wind Mobile Canada, let’s hope it’s a good one!