Verizon Buys Prepaid Carrier Tracfone

From PC Mag: Verizon is buying Tracfone, the oldest and largest virtual wireless carrier in the US, in a $6.9 billion deal that the companies say will probably close in the second half of 2021.

Tracfone has been offering service since the 1990s on all the major carrier networks and operates service for 21 million subscribers under a slew of names including its own, Straight Talk, Simple Mobile, Net10, Walmart Family Wireless, Total Wireless, Page Plus, and others.

"The portfolio of Tracfone brands creates a platform for growth and innovation in Verizon’s support of the value and low income segments. Verizon will continue to offer Lifeline service through Tracfone and further develop its core brands, products and distribution channels, including Straight Talk, the vast majority of whose customers operate on the Verizon network today," Verizon said in a press release.

Verizon has long been the nation's largest wireless carrier. As of the second quarter of 2020, the carrier reported 119.9 million subscribers, compared to 98.3 million for the New T-Mobile and 92.9 million for AT&T.

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