Cricket buys remainder of LCW for $3.2M

Leap Wireless (NASDAQ:LEAP) paid $3.2 million to purchase the remainder of LCW, a wireless carrier that provides Cricket wireless service to customers in areas of Portland, Salem and Eugene, Ore. LCW was formed in 2006 as part of a joint venture among Cricket, CSM Wireless and W LPCS Management LLC. 

Leap is now selling the Sanyo Zio by Kyocera.Initially, Cricket held a majority stake in the venture, but in March the company purchased CSM's 24 percent interest for $21 million, giving it a controlling stake in the firm. The FCC approved that purchase in July.  

The flat-rate carrier lately has been focused on increasing its footprint. Last spring Leap expanded its service nationwide through roaming agreements with several operators. And in February, Leap formed a joint venture with Pocket Communications to boost its position in south Texas, where Pocket has significant presence. 

In other Leap news, the company today launched its first Android-based smartphone, the Sanyo Zio by Kyocera. The Zio is available online and at Cricket-branded stores and dealers nationwide for $249.99 without a contract. The smartphone has a 3.5-inch touchscreen and offers 3G Web browsing, WiFi connectivity and GPS. 

For more:
- see this release on LCW
- see this release on the Zio

Related Articles:
Leap strikes MVNO deal with Sprint, posts Q2 subscriber loss
Leap's latest feature: nationwide coverage
Leap forges JV with Pocket Communications


Like this story? Subscribe to FierceWireless!

The Wireless industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceWireless as their must-read source for the latest news, analysis and data on this increasingly competitive marketplace. Sign up today to get wireless news and updates delivered to your inbox and read on the go.