The acquisition of by Sprint Nextel completed on November 24, 2009 , in a deal valued at approximately $483 million . This move consolidated Sprint's position in the fast-growing prepaid wireless market, combining the iconic Virgin brand with Sprint’s existing Boost Mobile business.
Sprint paid approximately $483 million in stock to bring Virgin Mobile fully into the fold. sprint buys virgin mobile
As part of the agreement, Sprint retired up to $205 million of Virgin Mobile’s outstanding debt. The acquisition of by Sprint Nextel completed on
Dan Schulman, former CEO of Virgin Mobile USA, will now head Sprint’s combined prepaid division, overseeing both the Virgin and Boost Mobile brands . Sprint to acquire Virgin Mobile | The Seattle Times former CEO of Virgin Mobile USA