After months of pouring through bids, Canada's Fido wireless brand creator Microcell Systems has found a buyer, Rogers Wireless. The wireless arm of Rogers Communications trumped a hostile takeover attempt by Telus.

In May, Telus put forth an initial offer to buy up its smaller rival for some good cold cash -- a deal valued at about $801 million, or $21 a share. Microcell rejected the bid, calling it 'inadequate' and said it would open itself up to other potential bidders.

Although Telus kept extending its deadline for Microcell to accept the offer, ultimately the company opted to go with a higher bidder. Rogers Wireless has agreed to buy Microcell for $27 a share, in a deal valued at roughly $1.08 billion.

When the deal, which is supported by Mircocell shareholders, closes, the combined entity will become the largest wireless operator in Canada with more than 5.1 million customers. Telus, which has roughly 3.6 million subscribers, could not be immediately reached for comment on the deal.

Rogers Wireless plans to finance the purchase with cash on hand, a draw down of its credit facility and a bridge loan from its parent Rogers Communications. Last week, AT&T Wireless agreed to sell its 34 percent stake in Rogers Wireless to its partner Rogers Communications.