T-Mobile to Acquire Remaining Interest in Iowa Wireless from Aureon
September 26 2017 - 5:04PM
Business Wire
Transaction accelerates T-Mobile’s geographic
expansion in Iowa and provides iWireless customers with access to
America’s Best Unlimited Network and Un-carrier benefits
T-Mobile US, Inc. (NASDAQ: TMUS, “T-Mobile”) today announced the
Un-carrier is accelerating its geographic expansion efforts in Iowa
though a definitive agreement to acquire the remaining interest of
Iowa Wireless (“iWireless”) from Aureon. iWireless is a leading
regional wireless provider serving Iowa, western Illinois, and
eastern Nebraska with 103 full service company stores and
authorized dealers that serve approximately 75,000 customers. This
will give customers of iWireless access to all of T-Mobile’s
Un-carrier benefits and America’s Best Unlimited Network. The deal
is subject to customary closing conditions including regulatory
approval and is expected to close in the fourth quarter of 2017 or
early 2018.
“We’re taking T-Mobile to every corner of the country and this
deal shows our commitment to expanding in the heart of America,”
said John Legere, President and CEO of T-Mobile. “We’ve been
disrupting the wireless industry for the benefit of consumers for
the last five years now and customers in Iowa will be able to
experience the benefits firsthand.”
Aureon’s CEO, Ron Keller, said “T-Mobile, Aureon and our
independent telephone company partners built iWireless over a
period of nearly 20 years. Going forward, iWireless will benefit
from T-Mobile’s unrelenting focus on growth and continued
investments in a high-quality network experience for their
customers.”
Since 2015, T-Mobile has doubled its LTE coverage and now covers
315 million people – almost every American and most of those in
rural America. By the end of the year, the Un-carrier expects to
expand LTE coverage to 321 million people. With its rollout of 700
MHz Extended Range LTE nearly complete, T-Mobile plans to further
broaden its LTE footprint for customers with its newly acquired 600
MHz spectrum. In Iowa, T-Mobile will expand its LTE coverage this
year in addition to further investment and buildout of 600 MHz in
the future.
Expanding and improving the network will enable the Un-carrier
to grow its distribution footprint with plans to open 3,000 stores
in 2017, including 1,500 T-Mobile stores and 1,500 MetroPCS stores.
In total, the company expects to have 17,000 branded locations
across the country by the end of 2017.
About T-Mobile US, Inc.
As America's Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is
redefining the way consumers and businesses buy wireless services
through leading product and service innovation. Our advanced
nationwide 4G LTE network delivers outstanding wireless experiences
to 69.6 million customers who are unwilling to compromise on
quality and value. Based in Bellevue, Washington, T-Mobile US
provides services through its subsidiaries and operates its
flagship brands, T-Mobile and MetroPCS. For more information,
please visit http://www.t-mobile.com.
About Aureon
Aureon is a leading business solutions provider offering a
comprehensive suite of support solutions focused on Technology, HR,
Contact Center and Consulting services. As a trusted partner for
organizations both small and large, we provide scalable and
customizable solutions that keep our clients focused and
productive. For more information, go to: www.aureon.com.
Forward-Looking Statements
This news release includes "forward-looking statements" within
the meaning of the U.S. federal securities laws. Any statements
made herein that are not statements of historical fact, including
statements about T-Mobile US, Inc.'s plans, outlook, beliefs,
opinions, projections, strategy, market and distribution expansion,
and expected timing of closing the transaction, are forward-looking
statements. Generally, forward-looking statements may be identified
by words such as "anticipate," "expect," "suggests," "plan,"
“project,” "believe," "intend," "estimates," "targets," "views,"
"may," "will," "forecast," and other similar expressions. The
forward-looking statements speak only as of the date made, are
based on current assumptions and expectations, and involve a number
of risks and uncertainties. Important factors that could affect
future results and cause those results to differ materially from
those expressed in the forward-looking statements include, among
others, the following: adverse economic or political conditions in
the U.S. and international markets; competition in the wireless
services market, including new competitors entering the industry as
technologies converge; the effects any future merger or acquisition
involving us, as well as the effects of mergers or acquisitions in
the technology, media and telecommunications industry; challenges
in implementing our business strategies or funding our wireless
operations; any disruption or failure of our third parties’ or key
suppliers’ provisioning of products or services; material adverse
changes in labor matters, including labor campaigns, negotiations
or additional organizing activity, and any resulting financial,
operational and/or reputational impact; the ability to make
payments on our debt or to repay our existing indebtedness when
due; adverse change in the ratings of our debt securities or
adverse conditions in the credit markets; and other risks described
in our filings with the Securities and Exchange Commission,
including those described in our most recently filed Annual Report
on Form 10-K. You should not place undue reliance on these
forward-looking statements. We do not undertake to update
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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