ITalk Inc. has agreed to acquire Eezinet Corp., a Tahlequah, Okla.-based phone company and provider of broadband services to rural areas.
Terms were not disclosed.
ITalk provides communications and mobile broadband services. The deal would grant the Fort Lauderdale, Fla.-based company ownership of three PCS spectrum licenses for wireless service in Oklahoma City, Greenwood, S.C. and Scotts Bluff, Neb.
Should both parties complete due diligence, and receive regulatory approval from the U.S. Federal Communications Commission, then the transaction would be expected to close in the third quarter.
Other wireless service providers are also acquiring spectrum. In May, Sprint Nextel Corp. (NYSE: S) closed a deal for wireless PCS spectrum for $480 million. In January, AT&T (NYSE: T) bought spectrum from rival Verizon Wireless Inc. (NYSE: VZN) for $1.9 billion.