Sprint Nextel to acquire Velocita Wireless

Dec 16 2005 - 02:17 PM ET | Backpage, Sprint Nextel

Sprint Nextel has agreed to buy Velocita Wireless. Velocita provides service to 400,000 business and governmental customers. Financial terms of the deal were not announced. After completion of the transaction, Sprint Nextel will utilize a portion of Velocita's spectrum assets to supplement Sprint Nextel's coverage for customers on its iDEN network. Service to Velocita's customers will not be interrupted.

The transaction is expected to close in the first half of 2006.