EchoStar Corp. has announced the completion of its acquisition of Dish Network Corp. on Dec. 31.
To complete the acquisition, a wholly owned subsidiary of EchoStar merged with and into Dish Network, with Dish Network surviving the merger as a wholly owned subsidiary of EchoStar. As previously announced, as a result of the merger, each share of Dish Network Class A Common Stock and Dish Network Class C Common Stock converted into 0.350877 shares of EchoStar Class A Common Stock, and each share of Dish Network Class B Common Stock converted into 0.350877 shares of EchoStar Class B Common Stock.
The transaction combines Dish Network’s satellite technology, streaming services and nationwide 5G network with EchoStar’s satellite communications solutions. It combines Dish Network’s 5G wireless network, which now covers more than 70% of the U.S. population, and EchoStar’s launch of the Jupiter 3 satellite with significant available capacity for converged terrestrial and non-terrestrial services, according to Echostar.
The combined company is headquartered in Englewood, Colo. The company will market worldwide under several brands, including Boost Mobile, Boost Infinite, Sling TV and DISH TV, as well as EchoStar, Hughes and Jupiter satellite services, HughesON managed services and HughesNet satellite internet.
“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, in a statement. “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. Our superior portfolio of technology, spectrum, engineering, manufacturing and network management expertise will deliver the unparalleled connectivity solutions that customers demand.”
“The completion of this merger marks an important milestone for our company and our customers, launching a new era of connectivity,” Charles Ergen, executive chairman of the board of EchoStar, said in a statement. “We have brought together two trailblazing companies with complementary portfolios to create a global connectivity leader with premier wireless, satellite, and video distribution capabilities. Together, EchoStar and DISH offer an enhanced consumer connectivity business and an unmatched enterprise managed services business. In a world that is increasingly wireless, we are well-positioned to drive revenue and profitable growth.”
“Bridging the digital divide and seamlessly connecting people, enterprises, and things is essential in the digital-first economy,” said John Swieringa, President, technology and chief operating officer of EchoStar, said in a statement. “Our combined brands, technology and operational and engineering resources uniquely position EchoStar to provide a compelling global offering that connects consumers to the internet access, mobile phone service, television programming, and streaming content they want, as well as delivering business and government customers the secure terrestrial, non-terrestrial, and hybrid connectivity solutions they need.”