EchoStar has completed its $26 billion acquisition of DISH Network, combining two of the United States’ largest providers of satellite and wireless services into one integrated telecommunications company.
Under the terms of the transaction, DISH Network is now a wholly owned subsidiary of EchoStar. All outstanding DISH Network common shares were converted into EchoStar shares, valuing the deal at approximately $26 billion. The share conversion rate was set at 0.350877 EchoStar shares for each DISH Network share.
“This merger brings us one step closer to our goal of offering ubiquitous connectivity to people, enterprises, and things, everywhere,” said Hamid Akhavan, President and CEO of EchoStar.
“Together, we’re better positioned to realize the connected future by leveraging every type of transport, combined with smart enabling technologies and fully integrated services.”
The combined company will strengthen capabilities across satellite communications, video distribution, 5G wireless and enterprise services. EchoStar highlighted its expanded portfolio of technology, spectrum holdings, engineering and manufacturing capacity, and network management expertise as assets that will help meet growing demand for comprehensive connectivity solutions.
The merger pairs DISH Network’s streaming services and its 5G network—which currently covers more than 70 percent of the U.S. population—with EchoStar’s satellite communications technology. EchoStar recently launched the JUPITER 3 satellite, adding substantial capacity to support converged terrestrial and satellite services.
“This merger marks an important milestone for our company and our customers, launching a new era of connectivity,” said Charles Ergen, Executive Chairman of EchoStar.
“We have brought together two trailblazing companies with complementary portfolios to create a global connectivity leader with premier wireless, satellite, and video distribution capabilities.”
Headquartered in Englewood, Colorado, the combined company will continue to market services under familiar brands such as Sling TV, Hughes, and EchoStar Satellite Services.
With its expanded reach and assets, EchoStar aims to accelerate delivery of internet, mobile, television and data services to customers across the globe, enabling broader access to high-quality connectivity and converged service offerings.
(Photo by charlesdeluvio on Unsplash)
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