Softbank Acquires eAccess For $1.84 Billion
Softbank is a Japanese telecommunications company that has acquired a smaller rival called eAccess in a $1.84 billion deal. As a result, Softbank will be able to increase their bandwidth and boost their LTE service. They will also surpass the second largest telecommunications company KDDI in terms of customer numbers.
eAccess had 4.01 million customers as of August and they will become a wholly owned Softbank subsidiary. Softbank hit around 30 million back in August. When speaking at a press conference about the deal, Softbank CEO Masayoshi Son said that the company held an exclusive deal with the iPhone until KDDI strikes a deal to sell the iPhone 4S last November.
“You asked if the iPhone 5 had an role as a trigger for this business merger. The answer is yes,” said Mr. Son. Softbank and eAccess will overtake KDDI’s 36 million customers. Softbank will benefit from saving on shared infrastructure and associated costs.@amitchowdhry or on Google+ at +AmitChowdhry