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Verizon Acquires Tracfone for $6+ Billion

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The largest MVNO in the US has been acquired by largest wireless provider in the US to the tune of $6+ billion. That’s right, Tracfone is joining Verizon, as announced earlier today.

If you weren’t aware, Tracfone serves a ton of people — it’s the largest reseller of wireless services in the US, serving about 21 million customers through a network of over 90,000 retail locations. Currently, more than 13 million Tracfone subscribers use Verizon’s network through an existing wholesale agreement, so for many, not much will change.

According to Verizon’s announcement, “Following the acquisition, Verizon expects to bring its award-winning 4G LTE and 5G networks and other innovative technologies to Tracfone customers, further develop Tracfone’s distribution channels, and expand Tracfone’s market opportunities.”

The deal is expected to close in the second half of 2021.

// Verizon

Via: droid-life.com

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