DISH Network’s Boost Mobile today announced its plan to acquire Los Angeles-based Gen Mobile. The release states the acquisition enables Boost Mobile to distribute to a larger segment of the low-income population while continuing its mass market expansion. Boost will procure the Gen Mobile brand, customer base, existing distribution network, technology and its seasoned wireless team.
“Gen Mobile has an established brand, a proven team and an unwavering commitment to connect the underserved,” said Stephen Stokols, who heads Boost and will oversee the Gen Mobile brand. “The brand is a natural addition as we look to reach all segments of the mobile market.”
Gen Mobile will continue to sell its low-cost wireless plans starting at just $10, and will also accelerate its EBB and Lifeline growth.
“We founded Gen Mobile to help bridge the digital divide and ensure all Americans have basic affordable wireless access,” said Robert Yap, CEO and Co-Founder of Gen Mobile. “Joining forces with Boost allows us to broaden our customer reach, magnify our impact and ultimately connect more Americans.”
After the acquisition closes, Robert Yap will continue to lead the Gen Mobile business reporting to Stephen Stokols, Executive Vice President of Boost Mobile. Gen Mobile will remain headquartered in Los Angeles. The transaction is subject to customary closing conditions, including regulatory approvals.
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