Glentel acquires 128 Verizon Wireless locations for $50 million

You might know Burnaby-based Glentel as the people behind WirelessWave, Tbooth and WIRELESS etc. They’re a huge wireless distributor and have over 280 locations across Canada. Today they announced they’ll be acquiring 128 Verizon Wireless locations in the United States. The stores are mall locations in Washington, Oregon, Wyoming, Utah, Colorado, California, Arizona, Nevada, New Mexico, Texas and Hawaii. In addition, with this acquisition brings 750 employees.

The deal is expected to close on October 1st, 2010 for a total purchase price of $50,450,000 USD ($52,555,140 CAD). Glentel will purchase 81.5% from Diamond Wireless, LLC, with the other “18.5% minority interest in the future under certain terms and conditions”.

Congrats to everyone at Glentel. It’s nice to see a Canadian company buy a U.S. company.

Source: CNW