Cricket acquires the rest of LCW Wireless for 3.2 million in cash

It was back in July of 2006 when LCW Wireless was formed as a joint venture between Cricket Communications, CSM Wireless and WLPCS Management. At that moment, Cricket held a majority non-controlling stake, only to buy off CSM’s 24% stake four years later (March 2010). The deal went through in July 2010 following the grant of approval by the U.S. Federal Communications Commission.

However, that’s still not good enough for Cricket and Leap Wireless (owner of Cricket) as they now announced the acquisition of the rest of LCW for $3.2 million.

Cricket is interested in LCW Wireless because they hold FCC licenses in Portland, Salem and Eugene, Oregon, covering approximately three million covered POPs.

So what this means for consumers – Cricket customers? In a word – nothing. However, there’s gotta be something behind this move. We heard Cricket hired an investment bank some time ago to “explore strategic options.” Is this part of the advice given by the bankers or what? If you have any comments, don’t hesitate to drop them in a comments form below…

[Via: TCMnet]

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