T-Mobile scoops up SunCom for $1.6B

In a somewhat surprising move, former AT&T Wireless affiliate, SunCom has been acquired by T-Mobile USA for $1.6 billion excluding debt. T-Mobile USA has had a roaming agreement with the carrier since 2004. SunCom boasted 1.1 million customers during its midyear financial report, most of whom were located in North Carolina, South Carolina, Tennessee, Georgia, Puerto Rico and the Virgin Islands. T-Mobile's network capacity will increase by 15 million potential users.

The regional wireless carrier hired Goldman Sachs in February to help it pursue "strategic alternatives," which it said at the time could include the sale of its entire business. SunCom has steadily declined ever since Cingular Wireless acquired AT&T Wireless in 2004 and SunCom ended its arrangement as an affiliate of the carrier.

For more on the deal:
- check out this letter from T-Mobile's CEO
- read the press release
- read this report from the Wall Street Journal