AT&T Acquiring Straight Path Communications for $1.6B

AT&T and Amdocs Confirm New CollaborationOn Monday, AT&T confirmed plans to acquire Straight Path Communications Inc. in a deal worth a reported $1.6 billion.

According to the report from MarketWatch, Straight Path shareholders are in line to receive $95.63 a share in AT&T stock.

The deal, which may not close for up to a year, “will support AT&T’s leadership in 5G, which will accelerate the delivery of new experiences for consumers and businesses like virtual and augmented reality, telemedicine, autonomous cars, smart cities and more,” AT&T said in a statement quoted by MarketWatch.

More details about the deal are expected in the days ahead.

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