Bell acquires Virgin Mobile Canada for CA$142 million

It seems Virgin’s mobile venture in Canada was not a success as the company expected, hence they agreed to sell their assets to their partner – Bell Canada. Under the terms of the deal, the earlier 50-50 joint venture will now be completely owned by Bell which paid CA$142 million (about $121 million U.S. dollar wise) for the privilege. Moreover, as part of the agreement, Bell managed to secure “exclusive, long-term” licensing deal to keep using Virgin’s brand. As a result, we might see Bell’s other MVNO, Solo Mobile, going under. Or not – it’s way to early to speculate, but having two virtual operators doesn’t seem like an easy task to manage, though I may be wrong on this one. We’ll see…

[Via: Engadget Mobile, MobileSyrup]