Sprint announced in a press release this afternoon that SoftBank's acquisition of the Sprint Corporation had officially been completed. The two companies announced a mutual interest back in October of last year. After struggling with competing bids from Dish Network, SoftBank received its final regulatory approval for the merger from the FCC just a week ago.

The merger gives SoftBank CEO Masayoshi Son overarching control of Sprint as chairman of the Sprint board of directors, though Dan Hesse will stay on as the Sprint Corporation's CEO. Interestingly, former Chairman of the US Joint Chiefs Of Staff (for our non-US readers, the top general in the US military) Adm. Michael Mullen is coming on as Sprint's director of security. Mullen was previously serving on the board of General Motors.

Sprint will retain its current stock ticker symbol ("S"), and Sprint HQ will remain in Overland Park, KS. What's next for the company? Given the massive capital infusion Sprint's just received, it's likely Masayoshi Son has big plans for the struggling Now Network, which has been operating at a loss for some time now.

Yesterday, Sprint also completed an acquisition of its own, officially taking control of Clearwire.

For more on the merger, see the official press release below.