AT&T Agreed to Buy Straight Path Communications

Today, AT&T announced it will buy Straight Path Communications Inc., a deal valued at $1.6 billion. Straight Path is one of the largest holders of 28 GHz and 39 GHz millimeter-wave spectrum, which are frequencies that the FCC has approved for the use of 5G wireless technology. With this purchase, AT&T is preparing to build one of the largest 5G networks in the country, competing with Verizon, Sprint, and T-Mobile.

Collectively, mobile broadband providers are expected to invest $275 billion over the next seven years, creating over 3 million jobs and $500 billion in economic activity. This purchase by AT&T will streamline the deployment of 5G technology and the vast consumer benefits that will come with faster and more reliable mobile connections.