In a surprise announcement AT&T (T) has announced it is acquiring Straight Path Communications Inc. (STRP) . The all stock deal is set to be valued at 1.6 Billion dollars
Straight Path Communications is engaged in the leasing and sub leasing of Wireless Spectrum and Broadband telecommunication services.
Straight Path is a Private Company and holds 838 licenses of 39 gigahertz bands. The company is based out of Glenn Allen Virginia and was founded in 2013.
It appears the move was a play for it’s 5G Spectrum roll out.