Sprint makes $2.1 billion bid to acquire Clearwire

After word spread that Sprint was in “active negotiations” to acquire the remaining share of Clearwire, the carrier has tabled a $2.1 billion offer to buyout the company. Sprint currently holds a majority stake in Clearwire but seeks complete ownership of its assets, including spectrum that could be repurposed towards building out the Now Network’s own wireless offerings.

A few key things need to happen before the deal can go through. Obviously, Clearwire would need to agree to the terms, but so would SoftBank, the Japanese company that aims to complete a deal to acquire 70 percent of Sprint by next spring. Even if both parties are kosher with Sprint’s offer, the Clearwire deal is contingent on the SoftBank acquisition going through. The ink likely won’y be on the paperwork until March or April of 2013.

[via Engadget]

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TAGS: acquisitions

  • yankeesusa

    Great news! Sprint is making the right moves, now we just need to see those moves reflected in more cities turning on lte like they promised.

    • NYCHitman1

      Well, nothing was exactly promised, but I do get what you are saying and somewhat agree with the original sentiment.

  • Steven Skwarkowski

    Poor Sprint. They have had such a hard time with there rollout if high speed spectrum. Good luck to them!!

  • Scott Zahlmann

    Sprint is one of those companies that has made a lot of crappy business decisions. I am glad they are starting to realize this and make the appropriate changes. They are about 2 years behind the curve now. I believe that in the next few years sprint will be a decent contender, if they can keep their unlimited data.

    • chuckles87

      In two years I see T-Mobile and sprint on top. Once they can get caught up with lte its game over for the big two unless they learn to give customers what they want low rates and unlimited data. With the Softbank money and clearwire spectrum sprint should be able to fix their network. With aquireing metro and the backing of their parents in Europe with the intent of rolling out lte advanced tmobile can easily jump to the top technology wise

  • a) youth.in.asia

    Yay for making moves with money you don’t have!