Sprint Nextel Completes Acquisition of Enterprise Communications Partnership
More Than 52,000 PCS Wireless Users Now Direct Subscribers of Sprint Nextel as Company Expands Direct Service Territory to an Additional 825,000 People
RESTON, Va. — 01/31/2006, Sprint Nextel Corp. (NYSE: S) announced today that it has completed its acquisition of Enterprise Communications Partnership, a former PCS affiliate, for approximately $98 million, including the assumption of debt.
With the closing of this acquisition, announced in December, the existing litigation between Sprint Nextel and Enterprise is terminated.
Enterprise Communications, based in Columbus, Ga., provides PCS services in Georgia and Alabama. As a result of the close, Sprint Nextel obtains approximately 52,000 direct wireless subscribers, as well as expands its direct service territoty to cover an additional 825,000 people. Enterprise Communications employs about 80 people and had revenues for the 12 months ended Sept. 30, 2005, of $54.3 million.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services 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. For more information, visit www.sprint.com/mr.
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