Sprint Corp. wireless affiliate iPCS Inc. reported the closing of its previously announced acquisition of fellow affiliate Horizon PCS Inc. The new operations will use the iPCS name and serve more than 432,000 customers in the Midwest.
Timothy Yager will continue in his position as iPCS’ president and chief executive officer. Horizon Chief Operating Officer Alan Morse will assume the same position with the new operations, while Steb Chandor will continue as executive vice president and chief financial officer of iPCS.
“This is a tremendous opportunity for both iPCS and Horizon PCS, as we continue to focus on realizing the potential of our combined territory to achieve increased levels of customer penetration consistent with our peer group,” Yager said. “Our solid balance sheet and substantial cash position give us the resources necessary to execute our existing growth strategies, and thus we expect to achieve above-average growth in the future.”
