Sprint has announced that they have entered into an agreement with U.S. Cellular, where the company will acquire PCS spectrum and 585,000 customers. This deal was reached with a cash payment of $480 million. This will allow Sprint to speed up its rollout of LTE service nationwide.
“This transaction will enable us to strengthen our business and become a more robust competitor, “said Dan Hesse, Sprint’s CEO. “Acquiring this spectrum will significantly increase Sprint’s network capacity and improve the customer experience in several important Midwest markets including Chicago and St. Louis. We welcome the new customers in these markets and look forward to providing them with Sprint’s unique combination of unlimited plans, an iconic device portfolio and unmatched customer service.”
With the agreement, Sprint will acquire 20 MHz of PCS spectrums in the 1900 MHz range. This of course requires regulatory approval. The deal is expected to close in mid-2013.
You can read the official press release via this link.