Controlling interest in Sprint Nextel has been purchased for $20.1 Billion by the Japanese mobile operator, Softbank. The announcement came today at a Tokyo press conference and represents the largest overseas acquisition by a Japanese firm.
Softbank will invest $20.1 billion into Sprint with $12.1 billion to be distributed to Sprint Stockholders and $8 billion of new capital to strengthen Sprint's balance sheet and fund efforts to expand Sprint's network reach.
Softbank Chairman and CEO, Masayoshi Son commented that,
“This transaction provides an excellent opportunity for SoftBank to leverage its expertise in smartphones and next-generation high speed networks, including LTE, to drive the mobile internet revolution in one of the world’s largest markets."
The agreement transactions are to be completed by mid-2013 when a new publicly traded entity, New Sprint, will be created. Sprint is hoping to benefit from Softbank's successful deployment of LTE in Japan. Softbank on the other hand gets a newly created U.S. subsidiary and a major foothold in the U.S. wireless market. A foothold that could be used to acquire additional, smaller wireless companies.
What does all this mean for current Sprint customers? It's really too early to tell but maybe, just maybe, this may open the door for our Windows Phones to have more of a presence on Sprint.
Source: Sprint; Thanks, Rudy, for the tip!
Update 6: Microsoft wants all of TikTok, but Trump's order may interfere
The Financial Times reports that as part of negotiations, Microsoft is now inquiring whether it can buy all of TikTok, instead of just the business in the US., Canada, Australia, and New Zealand. This new plan would include India and Europe (and excluding China).
Apple responds to Project xCloud iOS block, Microsoft kicks back
With Microsoft's Project xCloud streaming platform locked out from iOS devices, Apple doubles down on App Store restrictions.
Microsoft-TikTok deal is a 'poison chalice,' says Bill Gates
In a new interview, former Microsoft CEO Bill Gates called a potential deal to acquire TikTok a "poison chalice," referencing the fraight nature of TikTok's forced sale in the U.S.
Should your next computer be a mini PC? These are your best options.
Windows PCs come in all shapes and sizes, and whatever your needs there's a computer out there to suit you. Here are the best to choose from if you're looking for a new mini PC.