Glentel sale to BCE caps decades-long history in mobile for family run business

Glentel CEO Tom Skidmore accepts the first ever Cantech Letter TSX Tech Stock of the Year Award from Editor Nick Waddell.

Shares of Burnaby-based Glentel (TSX:GLN) have doubled today on news that the company had agreed to be bought by BCE for approximately $670-million. For Glentel investors, the move caps a success story decades in the making. Glentel opened its first Wireless Wave store in Burnaby’s Metrotown in 1997, and went on to open nearly 500 […]

Glentel gets upgraded to “Buy” at Paradigm

wireless wave

Glentel’s (TSX:GLN) strong performance in Canada is offsetting volatility in Australia, says Paradigm Capital analyst Gabriel Leung. On Wednesday, Glentel reported its Q3, 2014 results. The company earned $5.88-million on sales of $401.4-million, a 19% topline beat of last year’s third quarter. “The third quarter of 2014 results reflect the positive benefits from the company’s […]

Glentel is facing earnings headwinds, says Paradigm Capital

Diamond Wireless and Wireless Zone both reported year over year improvements in their top and bottom lines, but Paradigm analyst Gabriel Leung thinks Glentel is up against several obstacles.

A very competitive market is beginning to chip away at Glentel’s (TSX:GLN) margins, says Paradigm Capital analyst Gabriel Leung. Yesterday, Glentel reported its Q2, 2014 results. The company lost $14.99-million on revenue of $372-million. CEO Tom Skidmore said a quarter in which the company lost its Virgin mobile business in Australia and customer Diamond Wireless […]

Glentel continues US expansion with acquisition of Wireless Zone

Glentel's foray into the US is recent, considering the company's long history. In 2010, sensing its model had saturated the Canadian market, Glentel went south for the first time, buying a controlling stake in Diamond Wireless, a major third-party reseller of Verizon Wireless products in the U.S.

Glentel (TSX:GLN) today announced it has completed the acquisition of Wireless Zone, a 428-store franchise system in the United States that sells Verizon Wireless products and services. The Burnaby-based owner of Wireless Wave and T-Booth Wireless stores paid (US) $83.3 million for the franchise. CEO Tom Skidmore talked about his company’s growing geographic footprint. “I […]

Glentel teams up with Target

Under the terms of the deal, Target Canada will license the operation of mobile communication sales and services display fixtures within its stores to Glentel under the brand Target Mobile.

Target Corp. (NYSE:TGT) said Thursday it has teamed up with Canadian multi-carrier mobile phone retailer Glentel (TSX:GLN), with Glentel to offer an array of wireless devices to customers when the discount chain opens its stores in Canada in 2013. Under the terms of the deal, Target Canada will license the operation of mobile communication sales […]

Is Telus Taking a Page from Glentel’s Playbook?

A screenshot from a Telus ad for its Learning Centre. Were the retail outlets inspired by Glentel's Wireless Wave stores?

Churn rate, the buzz phrase for how many customers Canadian wireless providers are losing, is something they all wish would go away. Rogers, like most other wireless providers in North America, is losing customers. The churn rate of Canada’s largest wireless provider is now 1.73%. That’s better than rival Bell’s, whose rate is over 2%, […]

Facebook IPO Spotlights US Tech, but Canadian Techs are More Profitable

BYRONBerry2

Social media juggernaut Facebook today filed its IPO papers. The offering, which will be underwritten by Morgan Stanley, JPMorgan Chase and Goldman Sachs, amongst others, will value the company at nearly $100 billion, making it the largest internet IPO ever. The company’s form S-1 registration reveals, predictably, that revenue and profit have been climbing for […]

2012’s Top Tech Trends (And the Canadian Stocks that may Benefit)

Duncan Stewart Director, Research Technology, Media & Telecommunications for Deloitte Canada. Stewart is currently crossing Canada on the Deloitte TMT Predictions Tour. You wish you had his air-miles.

Back to the future. At Cantech Letter, we spent much of December rewarding the best of 2011. This resulted in Ottawa’s MOSAID winning 2011 Canadian Tech Stock of the Year, and crosstown rival Jim Skippen of Wi-LAN taking home the award for Canadian Tech Stock Exec of the Year. Today, we look forward. Every year, […]