From CNET: AT&T just made its 5G ambitions a little closer to reality.
The telecommunications giant said on Monday that it had acquired Straight Path Communications. The little-known company holds a swath of nationwide high-frequency radio licenses in the 39 gigahertz and 28 gigahertz band.
That spectrum will be key if AT&T wants to deploy a large-scale wireless network running on 5G. The next-generation technology is expected to bring an ultra-fast connection, but it requires far higher frequency spectrum than what current wireless technology uses (much of the LTE in the US is powered by 700 megahertz spectrum).
AT&T agreed to buy Straight Path for $1.6 billion, which includes debt and an amount owed to the Federal Communication Commission. Straight Path shareholders will receive $1.25 billion.
The deal is expected to close within 12 months.
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