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Verizon is buying Tracfone to claim an edge in prepaid phone carriers

Verizon is buying Tracfone to claim an edge in prepaid phone carriers
  • Verizon has bought a $ 6.25 billion prepaid carrier track phone.
  • Acquisitions can outperform rivals for low-cost telephone service.
  • If approved, the deal will close in the second half of 2021.

Because of the epidemic and the “good enough” service, people are turning to cheaper phone plans, and major carriers are taking advantage of that shift. Verizon (Disclaimer: This author also writes with Verizon Engadette) It has been stated that Purchase The prepaid provider Trockphone will help you get a low-cost telephone service for the equivalent of $ 6.25 billion.

The purchase will appeal to those who want to “appreciate wireless plans” and help them reach access to track phones, including 5G and fixed wireless internet access. The network still intends to provide a subsidized lifeline service for low-income Americans, and brands such as Street Talk will remain unchanged.

Read more: Why cell phone plans are so expensive

The expansion will add another 21 million subscribers to the Verizon series, of which 13 million already use the Verizon network. It has access to 90,000 locations, including CVS and Target.

If regulators approve the deal, Verizon must complete the acquisition by the second half of 2021.

This is not a completely unexpected step. Under the influence of COVID-19, the network is also facing stiff competition from companies such as AT&T’s Cricket and T-Mobile Metro. Verizon will control the most affordable service in the U.S. by purchasing a track phone, not to mention brands that are more closely associated with prepaid.

This may not make everyone happy. Competitive supporters and political politicians were already worried about the acquisition of T-Mobile Sprint. If you buy a Verizon track phone successfully, it will further strengthen the market and reduce your choices.

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