In a move that will bring fierce competition to AT&T, Verizon Wireless on Thursday agreed to buy Alltel for $28.1 billion in cash and debt. The acquisition will manufacture Verizon Wireless, a joint venture of Verizon Communications and Vodafone, the largest mobile-phone company in the U.S.

Verizon Wireless will add 13 million clients in 34 states and save about $9 billion from the purchase. Synergies are expected to generate incremental cost savings of $1 billion in the second year after closing.

At $28.1 billion, the deal is worth 2.2 percent more than the $27.5 billion TPG Inc. and Goldman Sachs Group paid last year to take Alltel private. The acquisition agreement caused Verizon Communications stock to rise.

“This move will create an enhanced platform of network coverage, spectrum and customer care to better serve the growing needs of both Alltel and Verizon Wireless customers for dependable basic and advanced broadband wireless services,” said Lowell McAdam, Verizon Wireless president and CEO.

Gaining in Rural Areas

Once the transaction closes, customers

of both companies will have access to an expanded range of products and services, including a lineup of basic and advanced devices and an expanded network calling community.

Alltel customers plus will benefit from advanced services, including downloadable music and a nationwide network. They additionally will be able to take advantage of consumer policies such as pop quiz Drive and concern Free Guarantee.

Verizon will gain customers in 57 primarily rural markets that it does not serve. The companies said the transaction puts the Alltel markets and customers on a path to advanced fourth-generation services as Verizon Wireless deploys LTE technology
all through its network by the next several years. Alltel’s customers additionally will reap the benefits of Verizon Wireless’ Open Development initiative, which welcomes third-party devices and services to use the Verizon Wireless network.

“This is a perfect fit, with…

Original post by Chase Higgins

gaming new wimax funny music device games realtek offbeat electronical Memory