AT&T has agreed to acquire Leap Wireless, the parent company of prepaid U.S. wireless carrier Cricket, for $15/share -- roughly $1.2 billion in cash, plus the $2.8 billion in net debt that the company holds.The company has 5 million subscribers, and AT&T will keep the Cricket brand and retail stores operating. Last year, Leap engaged in a three-year agreement with Apple to sell iPhones.
AT&T Inc. and prepaid wireless provider Leap Wireless International Inc. have entered into an agreement for AT&T to acquire Leap for $15 per share in cash. Under the terms of the agreement, AT&T will acquire all of Leap’s stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers. As of April 15, 2013, Leap had $2.8 billion of net debt. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap’s 700 Mhz “A Block” spectrum in Chicago, which Leap purchased for $204 million in August 2012.The transaction is expected to be closed within six to nine months.
Leap’s network covers approximately 96 million people in 35 U.S. states. Leap currently operates -- under the Cricket brand -- a 3G CDMA network, as well as a 4G LTE network covering 21 million people in these areas, and has 3,400 employees.
32 comments
Apple is today sending out notifications to Apple Music subscribers that, when tapped, allows them to send a referral to friend to sign up for a free one-month subscription to Apple Music.
...
Apple recently purchased PullString, a San Francisco startup that enables the design and publishing of voice apps through its PullString Converse platform, reports Axios.
PullString could be...
Apple is planning to release AirPods that feature a new surface coating, wireless charging, and a black color option, according to a report from Taiwanese Economic Daily News.
Apple supplier...
Apple today shared a new "Bokeh'd" video on its YouTube channel, which highlights the Depth Control feature on the iPhone XS, XS Max, and XR.
In the spot, a group of mothers are...
If you've deleted your DMs, they may be unavailable on your phone and on the web, but Twitter is still saving them, according to data from security researcher Karan Saini that was shared today by...
iPhone XS Max users experience more than two times faster real-world LTE data speeds as iPhone 5s users on average in the United States, according to OpenSignal, although there are caveats to...
Last August, Apple Music was updated with a new section in Browse curated by Deutsche Grammophon, one of the biggest classical music labels in the world. While classical music fans welcomed the...
Samsung has leaked its upcoming wearables lineup through its Galaxy Wearable app for Android ahead of its February 20 event.
Image credit: SamCentralTech
As spotted by Twitter account...
