Verizon is acquiring a 35-year-old wireless competitor that is shutting down as consolidation in the U.S. wireless market continues to accelerate.
For instance, in 2014, AT&T completed its acquisition of Leap Wireless, which owned Cricket Wireless, for $1.2 billion
Before the merger, Leap Wireless had almost 5 million customers through Cricket Wireless, making it the fifth-largest wireless carrier in the U.S. at the time. In 2020, T-Mobile officially merged with growing rival, Sprint, for $26 billion. Sprint was the fourth-largest wireless provider in the U.S., with over 54 million customers.
Most recently, T-Mobile acquired UScellular’s wireless operations for $4.3 billion in August last year. Before merging with T-Mobile, UScellular had about 4.5 million customers and was the fifth-largest U.S. carrier. Verizon expands customer base by acquiring Carolina West Wireless Now, Verizon is following its wireless peers by purchasing Carolina West Wireless, which is permanently shutting down its services on Sept. 30, according to a message to customers on its website.