VICTORIA – Vecima Networks’ “special purpose entity” YourLink sold $7.3 million worth of spectrum to Xplornet Broadband Inc. as part of the second phase of an agreement to divest of its 3.5 GHz radio spectrum licenses.
The first phase of the transaction concluded last December for $8.0 million. At that time, Vecima announced that Xplornet paid for the option to purchase additional spectrum licenses. Upon conclusion of this transaction, Vecima says that the remaining value of its sub 10GHz spectrum assets is between $13.0 and $20.0 million.
"We are happy that Xplornet has chosen to exercise their option to purchase additional spectrum," said CEO Surinder Kumar, in the announcement. "As mentioned in prior updates, we believe Vecima holds certain assets that have a market value that is many times their book value. Vecima will continue to monetize on its non-core assets. This deal further crystallizes the real value of these assets."
