Sprint Nextel buys out wireless provider for $312 million

Sprint Nextel announced Wednesday that it is acquiring Northern PCS Services for $312 million.

Northern PCS is a Sprint affiliate in Waite Park, Minn. The company has 236,000 wireless customers in Minnesota, North Dakota, Wisconsin and Iowa.

Since acquiring Nextel in 2005, Sprint has been buying affiliates from around the country. In April last year, Sprint paid $1.3 billion for affiliate UbiquiTel, which was the fifth affiliate the carrier bought at that point.

According to published sources, Sprint currently has only three affiliates left: IPCS, Shenandoah Telecommunications and Swiftel.

In this deal, Sprint is also taking on Northern PCS debt, but that amount was not disclosed. The company expects the deal to close in the third quarter.