Quick Take
AT&T (T) announced that it has agreed to acquire spectrum license holder Straight Path Communications (STRP) for a total transaction value of $1.6 billion.
Straight Path needed to sell the licenses quickly to avoid paying the FCC large amounts or potentially losing the licenses.
The deal gives AT&T more 5G wireless spectrum it needs to further develop its next generation, ultra-high speed 5G Evolution service offering.
