Sprint Nextel Completes Acquisition of Wireless Affiliate UbiquiTel Inc.RESTON, Va. -- Sprint Nextel Sprint Nextel Corporation (NYSE: S) is one of the largest telecommunications companies in the world. With 55 million subscribers, Sprint Nextel operates the third largest wireless telecommunications network in the United States (based on total wireless customers), behind Corp. (NYSE NYSE See: New York Stock Exchange :S): --Approximately 452,000 PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. Wireless Users to Become Direct Subscribers of Sprint Nextel --Extends Company's Direct Service Territory to an Additional 8.3 Million People in 9 States Sprint Nextel Corp. (NYSE:S) announced today that it has successfully completed its acquisition of UbiquiTel Inc. Under the terms of the agreement, announced in April, Sprint Nextel acquired UbiquiTel in an all-cash transaction for approximately $1.3 billion, including the assumption of approximately $300 million of net debt. The closing of the UbiquiTel acquisition brings final resolution to the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. pending between Sprint Nextel and UbiquiTel Inc. in the Delaware Court of Chancery court of chancery n. pl. courts of chancery A court with jurisdiction in equity. Noun 1. court of chancery - a court with jurisdiction in equity chancery . UbiquiTel, based in Conshohocken, Pa., provides Sprint PCS services in mid-size markets in California, Idaho, Indiana, Kentucky, Nevada, Tennessee, Utah, Washington and Wyoming, covering 8.3 million people. As of March 31, 2006, the company served approximately 452,000 direct wireless subscribers and 151,000 wholesale subscribers. UbiquiTel employs about 425 people and had revenues for the 12 months ended Dec. 31, 2005 of $422.7 million. About Sprint Nextel Sprint Nextel offers a comprehensive range of communications services bringing mobility to consumer, business and government customers. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks offering industry leading mobile data services; instant national and international walkie-talkie capabilities; and an award-winning and global Tier 1 Internet backbone (communications, networking) Internet backbone - High-speed networks that carry Internet traffic. These communications networks are provided by companies such as AT&T, GTE, IBM, MCI, Netcom, Sprint, UUNET and consist of high-speed links in the T1, T3, OC1 and OC3 ranges. . For more information, visit www.sprint.com. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion