Today Sprint Nextel closed on the purchase of the sole Nextel affiliate, Nextel Partners INC.(NPI). NPI’s stock ceased trading as of the close of today’s market. Withe the close of the sale Sprint Nextel picks up 58 additional markets along with 54 million POP’s and 6000 additional spectrum licenses. The purchase price for NPI was $6.5 billion, equal to $28.50 per NPI class A common stock. NPI customers are now officially Sprint Nextel corporate customers. The integration process should be pretty smooth considering it will mostly be a back end integration. This is because NPI worked very closely with Nextel making sure the same technology was used on the entire Nextel iDEN network. All sales and support channels in NPI are to remain in place for the time being. On June 20th the FCC gave it’s blessing for the merger and transfer of spectrum licenses which allowed for the deal to be closed today.
By Christopher Price on June 26, 2006
Christopher Price is the Founding Editor of PhoneNews.com. Today, he leads the team building Console, Inc. – a new kind of Android™ device. He still likes to pontificate… a lot. You can visit his personal blog at ChristopherPrice.net.