December 17, 2017 4:26 AM ET

Wireless Telecommunication Services

Company Overview of PRWireless, Inc.

Company Overview

PRWireless, Inc., doing business as Open Mobile, provides mobile telecommunication services in Puerto Rico. The company allows the use of broadband services to browse the Internet through phones or computers, using email and legally permissible content downloads via Internet. It also allows the use of broadband services to access and use corporate email and corporate business applications associated with workplaces of their clients. PRWireless, Inc. has strategic alliances with Sprint Corporation. The company was incorporated in 2006 and is based in Guaynabo, Puerto Rico.

Carretera 165

City View Plaza # 48

Suite 700

Guaynabo, PR 00970-7891

United States

Founded in 2006

Phone:

787-661-6736

Fax:

787-774-5058

Key Executives for PRWireless, Inc.

PRWireless, Inc. does not have any Key Executives recorded.

PRWireless, Inc. Key Developments

Sprint and Open Mobile Announce Joint Venture in Puerto Rico and U.S. Virgin Islands Business Wire

Sprint and PR Wireless, doing business as Open Mobile announced an agreement to combine their businesses in Puerto Rico, together with Sprint business in the U.S. Virgin Islands, into a new joint venture. The joint venture between two of the key players in the Puerto Rico wireless market will create a stronger competitor offering postpaid, prepaid, Lifeline and business services with increased scale, expanded distribution, improved network capacity, faster speed, and a deeper spectrum position. Sprint and Open Mobile will have a 68% and a 32% economic interest, and a 55% and 45% voting interest in the joint venture, respectively. Evercore served as financial advisor to Open Mobile on the transaction. The joint venture takes advantage of the strengths of both Sprint and Open Mobile. A board of directors will be established with Open Mobile and Sprint each designating representatives. A senior management team, to be named by the board prior to closing, will manage day-to-day operations of the joint venture out of Puerto Rico. The transaction close is subject to review and approval by the Federal communications commission, along with other regulatory authorities, which is expected to take several months.

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