Canada’s Shaw Communications agreed to acquire local operator Wind Mobile in a transaction worth CAD1.6 billion ($1.2 billion) that will add mobile services to the cable operator’s existing mix of TV, broadband and fixed telephony.

Shaw will acquire 100 per cent of the shares in Mid-Bowline Group, Wind Mobile’s parent.

Wind has 940,000 subscribers across Ontario, British Columbia and Alberta and 50 MHz of spectrum in each of these regions.

Wind said it has seen a 47 per cent increase in its subscriber base over the past two years which has translated into growth in revenue and EBITDA. In calendar year 2015, Wind is expected to generate CAD485 million in revenue and CAD65 million in EBITDA. It plans to upgrade to LTE services by 2017.

The transaction is subject to approvals, including those from the country’s Competition Bureau and the Ministry of Innovation, Science & Economic Development (formerly Industry Canada), as well as court approval. The deal is expected to close during the third quarter of fiscal 2016, said Shaw.

Last year VimpelCom and an affiliate sold its stake in Wind for CAD135 million. Earlier this year Wind emerged as a big winner following market leader Rogers’ acquisition of Mobilicity. Rogers transferred 16 out of 18 licences it acquired to Wind Mobile.