TORONTO – TeraGo has received approval from Innovation, Science and Economic Development Canada (ISED) to transfer six 24 GHz spectrum licences from Mobilexchange Spectrum Inc. (MSI) after it acquired the company in September.
The licences, held by MSI, total 960 MHz and cover approximately 3.1 billion MHz- Pop1 in Calgary, Edmonton, Montreal, Ottawa, Toronto and Vancouver. Each licence retains the same expiry date of May 25, 2025 following the deemed transfer.
"With ISED's approval for the MSI spectrum licence transfers we expect to close our previously announced acquisition of MSI in the coming days," said TeraGo president and CEO Tony Ciciretto, in the news release. "The acquisition of MSI's 24 GHz licences further strengthens TeraGo's position as the primary holder of 24 and 38 GHz fixed wireless spectrum licences in Canada's largest markets covering a total of 8.6 billion MHz-Pop1. We will look to leverage these assets to enhance our competitiveness and unlock greater value in our business."
1Based on ISED's population figures for 2011.
