TracFone agrees to acquire Simple MobileAlex Wagner - Deputy Managing Editor, News Desk
TracFone, a U.S. MVNO (mobile virtual network operator) owned by América Móvil, has announced that it's entered into an agreement to acquire Simple Mobile, another MVNO that operates on T-Mobile's network. Simple Mobile is a SIM-only service, meaning that it doesn't actually sell phones, offering only SIM cards to users that either bring their own device or purchase one from one of Simple Mobile's distributors. The service is home to around one million subscribers, while TracFone boasts a user base of around 20.1 million customers. There's no word on how much TracFone has agreed to pay for Simple Mobile, but the deal is expected to be completed during the second quarter of this year.
So far TracFone has remained silent on exactly what it plans to do with Simple Mobile, but with the acquisition expected to close later this quarter, more information concerning the agreement may come out soon. Until then, you can peep América Móvil's announcement of the deal at the PDF source link below.