Benzinga | Mar 8, 2021 11:04AM EST

DISH To Acquire Republic Wireless For Undisclosed Sum

* DISH Network Corp (NASDAQ: DISH) announced its plans to acquire MVNO service operating on the T-Mobile US Inc (NASDAQ: TMUS) network Republic Wireless.

* The financial terms of the transaction were not disclosed.

* DISH will assume 0.2 million customer relationships, the Republic Wireless brand, and other supporting assets under the arrangement.

* The existing Relay division of Republic Wireless will continue to operate as a standalone company and will become a wholesale customer on DISH's 5G network under the arrangement.

* Relay offers communication and productivity solutions for frontline teams in hospitality, facilities management, manufacturing, healthcare, and education.

* Republic has become known for simple, reasonable service with a customer-centric approach to support.

* DISH SVP of Ting Mobile and MVNO platforms Rob Currie will lead the Republic Wireless business.

* DISH's cash and cash equivalents amounted to $3.4 billion as of December 31, 2020.

* Price action: DISH shares are up 3.93% at $35.14 on the last check Monday.