T-Mobile Buys SunCom Wireless

If you’re one of the 1.1 million people who use SunCom Wireless, welcome to T-Mobile. According to the Wall Street Journal, T-Mobile purchased SunCom for $1.6 billion and will take over net debt of $800 million. In doing so, T-Mobile increases its subscriber base and its network capacity.

From the WSJ:

Deutsche Telekom (T-Mobile) said the deal will further its strategy of growing in the markets where it is already present. With almost 27 million customers, the U.S. mobile network market provides most of the company’s mobile network profits and is the only positive revenue source for Deutsche Telekom as a whole. The acquisition allows T-Mobile U.S. to increase its network coverage capacity by 15 million potential users to 259 million in 98 of the U.S.’s 100 most important regional markets, Deutsche Telekom said.

T-Mobile to Buy SunCom Wireless For $1.6 Billion and Debt