Shaw Communications is entering the wireless market having acquired Wind Mobile in a deal worth $1.6 billion.

The deal is subject to the approval of the Competition Bureau, Ministry of Innovation, Science and Economic Development, and is expected to close during the third quarter of fiscal 2016.

A release from Shaw says the acquisition is a unique opportunity to acquire a rapidly growing wireless business along with 940,000 subscribers and 50 MHZ of spectrum in Ontario, Alberta and British Columbia.

Shaw Communications had plans to launch its own wireless business in 2011, but abandoned the plan to focus on strengthening its cable business against rival Telus, which launched its Optik IPTV service in 2012. Rogers acquired Shaw’s unused wireless spectrum in 2013.

In 2015, Wind Mobile is expected to generate $485 million in revenue and $65 million in EBITDA. Shaw’s release also notes that the company has been “impressed” with Wind Mobile’s subscriber growth, noting the company has seen increases of 47% over the past two years.

Wind Mobile CEO Alek Krstajic and other members of the company’s management team will stay with the company under its new owners.

Whether or not Wind Mobile will keep its branding after the deal goes through hasn’t yet been decided, according to Shaw executives during a conference call this morning.

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