Debevoise & Plimpton LLP is advising Verizon Communications Inc. (NYSE: VZ) in its $6.25 billion acquisition of Tracfone, the leading pre-paid and value mobile provider in the U.S. The agreement also includes up to an additional $650 million in future cash consideration related to the achievement of certain performance measures and other commercial arrangements. For more information, please see the company’s press release.

Verizon is one of the world’s leading providers of technology, communications, information and entertainment products and services. Tracfone is the largest reseller of wireless services in the US, serving approximately 21 million subscribers through a network of over 90,000 retail locations nationwide.

The Debevoise team is led by M&A partners Michael Diz, Sue Meng and Jeffrey Rosen and includes M&A associates John Love and James Malmo, finance partner Jeffrey Ross and counsel Katarina Molnarova, benefits partner Lawrence Cagney and associate David Deutsch, tax partners Erin Cleary and Peter Furci and associate Lena Smith, intellectual property partner Henry Lebowitz and associate Jose Angel Lamarque, capital markets partner Steven Slutzky and associate Jonathan Miu, real estate associate Richard Grossmann and antitrust partner Ted Hassi and associate Leah Martin.