Leap Wireless Acquired By AT&T For $1.2 Billion

San Diego-based wireless carrier Leap Wireless has been acquired by AT&T, in a deal worth $1.2 billion. The two companies announced the deal late Friday. According to the two companies, AT&T will acquire all of Leap's stock and wireless properties, for $15 per share in cash. The companies aid that At&T will retail the Cricket brand name, and continue to utilize Cricket's distribution channels. Leap Wireless operates the Cricket prepaid wireless service.