The company that bought Alltel assets from Verizon Wireless says it also acquired a license to continue using the Alltel name and service marks, including My Circle, in the acquired markets.
Atlantic Tele-Network (ATN) yesterday said its $223 million purchase of the former Alltel wireless assets from Verizon is now complete. The acquisition, which was made through the company's Allied Wireless Communications Corp. (AWCC) subsidiary, includes wireless properties and licenses that serve about 895,000 subscribers in Georgia, North Carolina, South Carolina, Illinois, Ohio and Idaho.
ATN's use of the Alltel brand is for an initial term of 14 years and a total term of up to 28 years. ATN says it may expand its use of the brand outside of the acquired markets subject to covered population limitations and certain other conditions.
"Consumers recognize the Alltel brand for value, service and choice, and we plan to continue operating our business with the same approach in these markets," said ATN President and CEO Michael Prior in a statement. Former senior Alltel executive Frank O'Mara is leading the management team at AWCC.
Verizon Wireless was required to divest the properties as part of the regulatory approvals granted for its purchase of Alltel in January 2009.