AT&T has decided to acquire Cricket Wireless for $1.19 billion in cash ($15 per share). This includes net debt, which stands at $2.8 billion, the deal is worth about $4 billion.
Cricket Wireless is a pay-as-you-go mobile carrier that bundles Muve Music packages into its tarrifs. Muve Music is a music subscription service with over 1.6 million customers.
This is also a very interesting deal, because it was reported just a week ago that AT&T will be helping to launch the Beats By Dre’s Dasiy platform soon. Potentially, they will try to merge both of these products together? or this could see the end of the Daisy deal.
AT&T will acquire all of Cricket Wireless stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers.