Thursday, December 15, 2005

Sprint Nextel to Acquire Velocita Wireless for 900 MHz Spectrum

Sprint Nextel agreed to acquire Velocita Wireless through a stock purchase agreement for an undisclosed sum.

Velocita Wireless, headquartered in Woodbridge, N.J., serves about 400,000 business and governmental customers, with products that include wireless email, messaging, machine-to-machine, automated vehicle location, point-of-sale and field force automation applications.

Sprint Nextel plans to use a portion of Velocita's spectrum assets to supplement its coverage for customers on its iDEN national network. That spectrum use is not expected to impact Velocita's network coverage or availability. Sprint Nextel will continue to honor existing Velocita customer contracts after the close of the transaction, and will work with customers as appropriate to provide wireless network services that most closely meet their business needs.