OTTAWA – Niagara Networks isn’t on the list of 27 companies that qualified to participate in the auction for Advanced Wireless Services (AWS) spectrum that Industry Canada released Monday.
Niagara Networks, which acquired wireless spectrum in a May auction, had the highest deposit of $881.4 million when Industry Canada issued on March 14 its list of participants intending to participate in the auction.
But added to the list was Microsoft co-founder Paul Allen, a financial backer of a planned bid by entrepreneur John Bitove to acquire wireless spectrum. The group is bidding under the name Data & Audio-Visual Enterprises Wireless Inc. (DAVE) with a deposit of $106 million.
“We are excited to participate in this auction. We strongly believe that Canadian consumers deserve the best and most innovative wireless technology,” said Bitove, chairman of DAVE Wireless. “We look forward to competing in the AWS auction and to building a new wireless provider that will meet Canada’s rapidly evolving wireless communications needs.”
DAVE Wireless is a partnership between an investment vehicle controlled by Bitove; Quadrangle Group, a New York-based private investment firm with over $6 billion in assets under management; and Vulcan Capital, headquartered in Seattle, Washington. Vulcan Capital serves as the investment arm of Vulcan Inc., the organization founded by Allen.
The auction will begin May 27, with 40% of the spectrum being set aside for new players.
