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

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