Sprint Announces Pending Buyout of Enterprise Communications

1:33 am on December 18, 2005 | Category: Business, Corporate, Law, Telecom Services, Wireless

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Sprint Nextel has announced their pending acquisition of Enterprise Communications, at a cost of about $98 million.

The decision to buy out this company will allow the telecom giant to avoid a potential lawsuit resulting from the merger of Sprint and Nextel earlier this year. As an exclusive partner of Sprint, the Georgia-based affiliate filed a lawsuit when the merger was announced with competitor, Nextel.

Now, however, Enterprise Communications is satisfied with the buyout offer, and expect that all issues will be resolved once the acquisition is finalized sometime next year.

“There have been lots of discussions between affiliates and Sprint. Our owners felt this was the best approach for the employees and best for the company,” said Enterprise COO, Tom Beal in a statement.

When it is complete, this deal will add about 52,000 new customers to the Sprint PCS wireless network.

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    Edited by Jeremy Maddock