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Cricket Leaps Into Joint Venture with Pocket Communications

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Feb 23, 2010, 8:15 AM by Eric M. Zeman

Today Leap Wireless announced that it has formed a strategic joint venture with Pocket Communications in order to expand its coverage in southern Texas. Both companies provide pre-paid wireless services. The joint venture, which has yet to be named, will take control of both Leap's and Pocket's wireless assets and operations in the south Texas region, from San Antonio to Laredo and in the Rio Grande Valley, covering more than 4.4 million points of presence (POPs). Leap will control 76% of the joint venture, and Pocket will control 24%. The companies believe the joint venture will lead to operational cost savings about 12 months after the joint venture launches. Leap has about 5 million customers of its Cricket branded services, and Pocket Communications has about 320,000. In January, Leap Wireless hired counsel to explore the idea of merging with and/or selling itself to another wireless provider. it's unclear if this is the outcome of that course of action. MetroPCS, one of Leap's competitors, also recently hired counsel to explore the same options.

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