Alltel Corporation is the fifth largest wireless telecommunications company in the United States with 13.4 million customers, as of the second quarter 2008, after AT&T Mobility, Verizon Wireless, Sprint Nextel, and T-Mobile.

Alltel is the largest regional mobile phone company in the United States. With its own network in 34 states, Alltel's own wireless coverage area comprises the largest network in the United States by area. The company focuses on small to medium size cities but provides wireless services to residential and business customers in all 50 states through low-cost roaming agreements with the major national CDMA carriers including Verizon Wireless and Sprint Nextel. These agreements give Alltel customers access to nationwide service while providing those carriers coverage in rural areas.

On June 5, 2008, Verizon Wireless announced it will acquire rural provider Alltel Wireless in a deal valued at $28.1 Billion. With this merger, Verizon Wireless will have approximately 80 million wireless subscribers and cover approximately 290 million people making it the largest network in the country by area covered and number of subscribers.

History

In 1943, Allied Telephone Company, a small business specializing in installing telephone poles and cabling for telephone companies across Arkansas, was founded by Charles Miller and Hugh Willbourn, Jr.

Alltel's modern history begins in 1983 when Allied Telephone and Mid-Continent Telephone merged. Mid-Continent Telephone was founded by Weldon W. Case and his younger brother, Nelson H. Case. The elder Case became Alltel's first chairman and headquartered the company in Hudson, Ohio. In 1985, Alltel launched its first wireless system in Charlotte, North Carolina. In 1993, Alltel opened its first wireless retail store. In 1997, the company's wireless and wireline businesses were combined into a single organization.

On December 9, 2005, Alltel announced that it would become a wireless-only company, simultaneously merging and building a spin-off company for its wireline services. The wireline services business of Alltel merged with Valor Telecom and was named Windstream Communications on April 10, 2006. The merger-spinoff process ended July 17, 2006 when Windstream began operations.

On May 20, 2007, Alltel announced an agreement to be sold to two private-equity firms: TPG Capital and GS Capital Partners. Under the deal, the two firms paid $71.50 a share in cash, or $27.5 billion, a 10% premium over Alltel's May 18, 2007 closing price.

On June 4, 2008, The Wall Street Journal reported that Verizon Wireless is in talks to acquire the wireless carrier for around $27 billion dollars.

Mergers and acquisitions

1990

• Systematics, Inc - founded in 1968 by Arkansas investor Jackson T. Stephens. Became Alltel Information Services (AIS), and later sold to Fidelity Information Services.