28 Dec Telco’s Watch as Sprint Acquires Clearwire for $2.2 Billion
Lately, telcos have been waiting in anticipation to see if Sprint will move ahead with a deal to fully acquire Clearwire, a wireless high-speed Internet Service Provider, which they owned the majority share (51%). Last week, Sprint Nextel Corp. reached a deal to acquire the remaining portion of US carrier Clearwire Corp. for $2.97 per remaining share, totaling to $2.2 billion . This acquisition, if approved by federal regulators, will expand Sprint’s wireless spectrum, making it a very viable competitor to AT&T and Verizon.
Sprint’s acquisition of Clearwire will enable the company to better serve its current and future clients by offering more choices and improved services. “Today’s transaction marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services,” said Dan Hesse, CEO of Sprint Nextel.
In the past, Sprint has been able to entice customers with its unlimited data plan, however, the ISP lagged behind in deploying the high-speed network technology. Nevertheless, moving forward with this deal with Clearwire now puts Sprint in a good position to build out its 4G LTE network. The deal gives Sprint full control of Clearwire’s notable spectrum, as well as its existing 4G WiMax network, which Sprint will upgrade to 4G LTE next year.
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