What you need to know
- The FCC approved Verizon's acquisition of TracFone on November 22, 2021.
- Verizon reached an agreement to buy the prepaid carrier over a year earlier, September 13, 2020, for $7 billion.
- Verizon claims that TracFone customers will benefit from Verizon's investment with better services and new features.
Verizon is applauding the FCC's approval of its acquisition of prepaid cell phone carrier TracFone. Verizon had entered an agreement to buy the carrier on September 13, 2020, for $7 billion. At the time, Tracfone was the largest MVNO in the country, with 21 million subscribers.
Senior vice president of public policy and government affairs, Kathy Grillo, said of the deal:
Verizon welcomes the FCC's approval today of our TracFone acquisition. The deal will provide customers with the best of both worlds: more choices, better services and new features thanks to Verizon's investment and innovation. Customers will benefit with enhancements in devices, network performance and innovative products and services -- as well as a continued commitment to Lifeline.
TracFone also has several other smaller brands, including Straight Talk, Simple Mobile, Total Wireless, and Walmart Family Mobile. TracFone customers likely won't notice much, if any, negative impact to their service given the strength of Verizon's coverage area. It will also take some time before Verizon is able to fully integrate the carrier and its customers into its own network. Grillo reaffirmed its commitment to TracFone customers:
We will work hard to serve TracFone's current customers and look forward to serving new ones in this dynamic and fast-growing marketplace.
TracFone is joining the growing number of prepaid options using Verizon's network. These carriers offer their own plans and features to allow customers to find the right fit for them. For the most part, this is a strong move with some of the best cell phone plans you can buy using Verizon's vast LTE network.
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