AT&T acquires FiberTower Corporation

AT&T (NYSE: T) has closed its acquisition of FiberTower Corporation, giving it millimeter wave spectrum that will be put to work later this year to begin the rollout of mobile 5G services, the company said.

AT&T paid USD 207 million to acquire FiberTower and will receive a significant footprint in the 39 GHz band, with average holdings of more than 375 MHz in the top 100 markets.

The move follows an FCC order on Jan. 26, 2018 that resolved open regulatory issues and paved the way for AT&T to complete its purchase of FiberTower. AT&T plans to use the millimeter wave spectrum obtained in the deal to help meet its goal of being the first US company to introduce mobile 5G in a dozen markets by late 2018.

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