Sprint Acquisition: Who Purchased the Company?
September 13, 2023 by JoyAnswer.org, Category : Business
Who bought out sprint? Discover which company acquired Sprint, leading to changes in the telecommunications industry.
Who bought out sprint?
Sprint Corporation was acquired by T-Mobile US, Inc. The acquisition was completed in April 2020, resulting in the merger of Sprint and T-Mobile to create a larger telecommunications company. This merger significantly impacted the U.S. wireless industry, as it reduced the number of major wireless carriers from four (AT&T, Verizon, T-Mobile, and Sprint) to three (AT&T, Verizon, and the combined T-Mobile and Sprint entity).
T-Mobile bought out Sprint in 2020. The merger was finalized on April 1, 2020, and the combined company is now called T-Mobile.
The merger was approved by the U.S. Department of Justice (DOJ) in July 2019, after the two companies agreed to sell Sprint's prepaid business, Boost Mobile, to Dish Network. The DOJ had concerns that the merger would reduce competition in the wireless market, but it ultimately approved the deal after the companies agreed to sell Boost Mobile.
The merger of T-Mobile and Sprint created the third-largest wireless carrier in the United States, behind Verizon and AT&T. The combined company has over 100 million customers.
The merger was controversial, with some critics arguing that it would lead to higher prices for consumers. However, T-Mobile and Sprint argued that the merger would allow them to invest in new technologies and improve their networks.
It is still too early to say what the long-term impact of the merger will be. However, it is clear that the wireless industry is consolidating, and T-Mobile and Sprint are now the two dominant players.
