SoftBank’s Sprint unit is reportedly poised to make a $32 billion offer to acquire T-Mobile that could take place early this summer. According to people familiar with the matter, the two telecoms have agreed on the broad outlines of a merger, but are still working on a formal contract. If completed and approved, the deal would combine the country’s third- and fourth-largest wireless operators, and potentially establish stronger competition for industry leaders Verizon and AT&T. Continue reading Sprint Edges Closer to a $32 Billion Deal for Rival T-Mobile

Sprint is reportedly meeting with five different banks, including JP Morgan, Goldman Sachs and Deutsche Bank, to expedite its bid for rival T-Mobile. Insiders say that Sprint, which is owned by Japan’s SoftBank, hopes to finance much of T-Mobile’s estimated $50 billion price with corporate bonds. The remaining amount would likely be covered by syndicated loans and convertible bonds. Sprint, which is also working to ease regulatory concerns regarding the deal, is expected to make a formal offer by June or July. Continue reading Sprint in Talks with Banks to Fund Acquisition of T-Mobile

Japanese game developer GungHo Online recently released its 2013 financials, revealing sales of $1.5 billion, 91 percent of which came from the game “Puzzle & Dragons.” This marks the first mobile game to officially earn over $1 billion. The company noted that $775 million of these sales were generated through Google Play, and $650 million through the Apple App Store. GungHo also announced that the game generated $155 million in January this year.  Continue reading Puzzle & Dragons: First Mobile Game to Top $1 Billion in Sales

Amidst the rapid growth of the wearables market, Samsung intends to bypass Google’s Android operating system in favor of the Tizen OS for its new version of the Samsung Gear smartwatch. Hoping to avoid giving Android the same boost it received in the smartphone and tablet markets, Samsung is aiming to develop more of its own software and services. Samsung is expected to unveil the updated Gear smartwatch along with a new HTML5 version of Tizen at the Mobile World Congress in Barcelona next week.

Continue reading New Samsung Smartwatch to Use Tizen Rather Than Android

Sprint, the third largest carrier in the U.S., may take over its smaller rival, T-Mobile. Sprint has received proposals from at least two banks on how to finance the acquisition. T-Mobile’s market value is reportedly around $26 billion, but the deal would likely cost $50 billion total, with approximately $20 billion going toward paying off T-Mobile’s debt. The potential takeover comes at a little more than a year from an expected government auction of wireless airwaves. Continue reading Sprint Could Acquire T-Mobile to Better Compete with Rivals

U.S. consumers are buying fewer smartphones and upgrading less often, a problem for device manufacturers and wireless carriers, such as Apple and AT&T respectively. The more advanced smartphones become, the less consumers feel the need to upgrade. Some consumers see the pace of innovation slowing, encouraging them to wait for breakthrough devices, and passing on the newest upgrades. Yet companies see a future in new services and technologies. Continue reading U.S. Consumers Upgrading Smartphones at Declining Rates

SoftBank Corp. is expected to take over Sprint Nextel in a $21.6 billion deal, while separately, Sprint raised its Clearwire offer to $5 a share, beating a rival bid from Dish Network. Masayoshi Son — chairman and chief executive officer of SoftBank, who founded the company in 1981 — told shareholders at an annual meeting in Tokyo on Friday that he plans on SoftBank becoming “the world’s biggest company.” Sprint shareholders are scheduled to vote on the takeover tomorrow. Continue reading SoftBank to Acquire Sprint Nextel, CEO Boasts Big Plans

Sprint Nextel, the third largest U.S. wireless carrier, accepted a $21.6 billion bid last week from Japan’s SoftBank and gave Dish Network a Tuesday deadline to make a best and final offer. However, Dish said it would not submit a new offer by the deadline, which clears the way for a Sprint acquisition by SoftBank. Dish has shifted its focus to purchasing a large stake in Clearwire Communications, but now faces a lawsuit filed by Sprint to block the offer. Continue reading Dish Network Opts Not to Submit New Bid for Sprint Nextel

Dish Network is reportedly making a play for shares of Clearwire Corp., which could complicate a planned purchase of the broadband company by Sprint Nextel. In an effort to better compete in the U.S. wireless market, Sprint had agreed to purchase the roughly 50 percent of Clearwire that it does not already own. Additionally, Sprint agreed to a $20 billion acquisition by Japan’s SoftBank Corp. However, Dish also made a $25.5 billion offer to acquire Sprint.  Continue reading Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans

Dish Network has received signed commitment letters from five banks, according to people familiar with the matter, bringing it closer to arranging $9 billion in committed financing for a planned $25.5 billion acquisition bid for Sprint Nextel. Dish has raised nearly $12 billion for the deal, which will compete with October’s $20.1 billion offer by SoftBank to acquire 70 percent of Sprint. The financing arrives a few days after Sprint agreed to enter into negotiations with Dish. Continue reading Dish Goes Up Against SoftBank to Purchase Sprint Nextel

Pay TV operator Dish Network announced yesterday that it has placed a $25.5 billion bid for wireless carrier Sprint Nextel, which is presently ranked third in the U.S. behind Verizon Wireless and AT&T. Dish Network’s chairman and former CEO Charlie Ergen is hoping to bridge the gap of current wireless models by offering customers faster and more affordable television, high-speed Internet and cellphone services in a single package. Continue reading Dish Network Submits $25.5 Billion Bid for Sprint Nextel