Verizon completes its acquisition of TracFone Wireless

Verizon has finished the acquisition of TracFone Wireless and its subsidiaries in a deal worth over $6 billion in cash and stock.

By  Victor Wright Nov 23, 2021

Back in September of 2020 Verizon announced it was planning to acquire TracFone Wireless. TracFone is one of the leading prepaid phone providers in the US and its acquisition was expected to help Verizon expand its portfolio into the value segment. For the unaware, TracFone has been a longtime partner of Verizon, with more than 13 million TracFone subscribers relying on Verizon’s wireless network through an existing wholesale agreement. Should the acquisition have been approved, Verizon aimed to bring its 4G LTE and 5G networks to TracFone customers, develop its distribution channels, and expand its market opportunities. That deal has finally been approved by the FCC.