AT&T to acquire Leap Wireless

Wireless carrier AT&T Inc. has agreed to buy Leap Wireless International Inc. for roughly $1.2 billion, or $15 per share in cash. Under the agreement, AT&T will acquire all of Leap's stock, wireless assets, and its 5.3 million subscribers.The acquisition will help bolster AT&T's coverage in select areas around the country. More importantly, Cricket customers will have access to AT&T's more robust 4G LTE network.

"AT&T will retain the Cricket brand name, provide Cricket customers with access to AT&T's award-winning 4G LTE mobile network, utilize Cricket's distribution channels, and expand Cricket's presence to additional U.S. cities," notes the press release.

The Cricket brand would join AT&T's Aio Wireless brand, launched in May through a wholly owned AT&T subsidiary. The subsidiary sells Aio service only through Aio-brand stores operated by third parties and at Aio's website. Aio operates about 116 stores in Houston and in Orlando, Tampa, Jacksonville, Gainesville, Naples and Fort Myers in Florida. The subsidiary plans to add more markets across the United States over the next year.

Read more -here-

• Federal regulators accuse Amazon executives of deleting messages
• FCC restores net neutrality rules
• US moves to force ByteDance to sell TikTok
• Ray-Ban Meta smart glasses can now play Apple Music
• Apple's AI will work without an Internet connection
• Tesla recalls new Cybertrucks over accelerator hazard