Sprint Buys Virgin Mobile Access

As part of the agreement, Sprint retired up to $205 million of Virgin Mobile’s outstanding debt.

The wireless landscape just shifted in a big way. Sprint Nextel has officially closed its acquisition of Virgin Mobile USA, a move that doubles down on the thriving prepaid segment. In an economy where consumers are increasingly value-focused, Sprint is positioning itself to lead the "no-contract" revolution. sprint buys virgin mobile

Sprint paid approximately $483 million in stock to bring Virgin Mobile fully into the fold. As part of the agreement, Sprint retired up

Blog Post Idea: Sprint Dials Into Prepaid with Virgin Mobile Acquisition Sprint to acquire Virgin Mobile | The Seattle

Dan Schulman, former CEO of Virgin Mobile USA, will now head Sprint’s combined prepaid division, overseeing both the Virgin and Boost Mobile brands . Sprint to acquire Virgin Mobile | The Seattle Times

The acquisition of by Sprint Nextel completed on November 24, 2009 , in a deal valued at approximately $483 million . This move consolidated Sprint's position in the fast-growing prepaid wireless market, combining the iconic Virgin brand with Sprint’s existing Boost Mobile business.