Verizon Wireless said it has completed a previously announced purchase of spectrum licenses and operations assets from Leap Wireless International Inc. for $102.5 million. The deal, which originally was announced in March, included a roaming agreement that allows Leap to offer roaming services to its customers using Verizon Wireless’ network.
The spectrum deal includes 23 spectrum licenses ranging from 5 megahertz to 25 megahertz covering 8 million potential customers in 20 markets in Michigan, Wisconsin, Arkansas, Mississippi, Alabama and New York. Verizon Wireless also acquired Leap’s operating assets and customers in Michigan.
Verizon Wireless said the deal includes spectrum licenses in nine new markets and expansion of four existing markets that will add 2.7 million pops to its licensed footprint. The carrier added that the remaining licenses are in markets where it currently offers service, and it would use the licenses to expand capacity.
Leap noted that 19 of the licenses are in markets where it does not offer service, and it now owns wireless licenses covering about 60.2 million pops. The carrier added that it plans to use proceeds from the sale to fund future growth and network construction.
