AT&T (NYSE: T) has committed to investing up to USD 200 million in a venture capital fund as part of its ongoing effort to develop solutions to the toughest technology challenges, the company said.
AT&T will work with Coral´s Communications Industry Platform (CIP) team to identify and invest in start-up companies focused on connected services and platforms.
The fund will invest in technologies that run on the Open Network Automation Platform (ONAP). ONAP is an operating system for software-defined networks. It was born of a merger between a platform created in AT&T Labs and an existing effort in open source. It is being used to manage the company´s own cloud network. ONAP is now an open source platform hosted by the Linux Foundation. It is quickly becoming the standard for virtualized networks around the world.
AT&T and Coral will identify additional companies to invest in the fund. The CIP members can pool their resources to create innovations to address vital problems.
Coral Group is a venture capital firm that helps build scalable companies that disruptively change markets. The Coral team has specialized expertise in telecom systems integration, Internet-based consumer and enterprise-facing applications and services. The Communications Industry Platform combines venture capital and integrated solutions to help communication service providers around the world solve strategic challenges through innovation on a global scale.
AT&T helps millions around the globe connect with entertainment, business, mobile and high speed Internet services. Its products and services are provided or offered by subsidiaries and affiliates under the AT&T brand and not by AT&T Inc.