AT&T - M&A Summary and Business Overview

CommunicationsCompany

AT&T M&A Summary

AT&T has acquired 51 companies, including 1 in the last 5 years. A total of 27 acquisitions came from private equity firms. It has also divested 24 assets.

AT&T’s largest acquisition to date was in 2016, when it acquired WarnerMedia for $108.7B. It’s largest disclosed sale occurred in 2013, when it sold AT&T Wireline Broadband and Video Operations to Frontier Communications for $2.0B. AT&T has acquired in 13 different US states, and 3 countries. The Company’s most targeted sectors include communications (52%) and information technology (14%).

AT&T Business Overview

Where is AT&T headquartered?

AT&T is headquartered in Dallas, Texas.

What is AT&T’s revenue?

AT&T disclosed revenue of 122,428M USD for 2023 and 120,741M USD for 2022.

How many employees does AT&T have?

AT&T has 148,290 employees.

What sector is AT&T in?

AT&T is a communications company.

When was AT&T founded?

AT&T was founded in 1983.

M&A Summary

  • M&A Total Activity61
    • M&A Buy Activity37
    • M&A Sell Activity24
  • Total Sectors Invested 7
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 46
  • M&A Advisors 9

AT&T

AT&T, Inc.

208 South Akard Street,
Dallas, Texas 75202
United States,
(210) 821-4105
www.att.com

AT&T is a provider of telecommunications services in the United States and the world. AT&T offers services and products to consumers in the US and services and products to businesses and other providers of telecommunications services worldwide. AT&T's services and products include wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, telecommunications equipment, managed networking, and wholesale services. AT&T was founded in 1983 and is headquartered in Dallas, Texas.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 36 - - - - 1 37
vol $185.6B $185.6B
Sell (2.0/yr) # 14 2 6 1 - 1 24
vol $5.4B $1.2B $1.0B $7.5B
  61

Most Recent M&A

Company Date Value Type
AT&T - Spectrum licenses 2024-11-07 1.0B USD Divestiture
Dallas, Texas
AST & Science LLC 2024-01-18 - PIPE
Midland, Texas · www.ast-science.com
Wireless Maritime Services LLC 2022-10-17 - Divestiture
Miramar, Florida · www.wmsatsea.com
WarnerMedia LLC 2021-12-22 - Divestiture
New York, New York · www.warnermedia.com
Xandr, Inc. 2021-12-21 - Divestiture
New York, New York · www.xandr.com
Game Show Network LLC 2021-10-18 - Divestiture
Santa Monica, California · www.gsngames.com
AT&T - Vyatta Routing and Switching Technology 2021-09-02 - Divestiture
Dallas, Texas
Chilevision 2021-04-05 - Divestiture
Santiago, Chile · www.chilevision.cl
DIRECTV LLC 2021-02-25 - Divestiture
El Segundo, California · www.directv.com
Crunchyroll, Inc. 2020-12-09 1.2B USD Divestiture
San Francisco, California · www.crunchyroll.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
NextWave Wireless, Inc.    - PacketVideo Corp. 2016-05-10 1
San Diego, California · www.nextwave.com San Diego, California · www.pv.com
AT&T Mobility LLC    - Alltel Corp. 2009-01-09 2
Atlanta, United States Little Rock, Arkansas · www.alltelwireless.com
American Cellular corp. 2000-02-26 Highland Cellular LLC 2006-10-05 1
Franklin, Tennessee · www.americancellular.net Beckley, United States
NextWave Wireless, Inc.    - TeleCorp WCS, Inc. 2005-01-01 1
San Diego, California · www.nextwave.com Arlington, Virginia

M&A by Sector

Sector Buy # Value Sell # Value
Communications 19 (51%) 20.2B (11%) 11 (46%) 5.0B (66%)
Information Technology 5 (14%) 7.4B (4%) 2 (8%) -
Media 3 (8%) 157.7B (85%) 4 (17%) 1.2B (16%)
Internet Software and Services 4 (11%) 300M (< 1%) 2 (8%) -
Software 4 (11%) - 1 (4%) 1.4B (19%)
Digital Media 1 (3%) - 1 (4%) -
Business Services - - 2 (8%) -
Marketing 1 (3%) - - -
Technology Hardware - - 1 (4%) -
Total 37 $185.6B 24 $7.5B

By Geo

State/Country Buy Value Sell Value
United States 32 174.9B 21 7.5B
  California 14 50.9B 5 1.2B
  Texas 3 275M 5 3.0B
  New York 3 108.7B 2 -
  New Jersey 2 2.0B 2 -
  Georgia 2 7.5B 1 -
  Florida 1 - 1 -
  Tennessee 1 2.4B - -
  Rhode Island 1 - - -
  Oregon 1 - - -
  Oklahoma 1 2.8B - -
  Nevada 1 - - -
  Massachusetts 1 - - -
  Maryland 1 300M - -
  Washington - - 1 -
  Ohio - - 1 1.4B
  Connecticut - - 1 2.0B
Canada 3 7.0B 1 -
  Ontario 1 - 1 -
  Quebec 1 15M - -
  Alberta 1 7.0B - -
Mexico 2 3.8B 1 -
Chile - - 1 -
Domestic 32 (86%) 174.9B (94%) 21 (88%) 7.5B (100%)
Cross-border 5 (14%) 10.8B (6%) 3 (13%) -
Total 37 $185.6B 24 $7.5B

Top M&A Advisors

Financial Deals
Evercore Group
 2
Drake Star Partners
 1
Goldman Sachs
 1
Legal Deals
Sullivan & Cromwell
 2
Kilpatrick Townsend & Stockton LLP
 1
Debevoise & Plimpton
 1

Deal Values

buy # Total
> $1B 10 $183.4B
$100M to $1B 4 $2.2B
< $100M 2 $104M
TOTAL $185.6B
Largest WarnerMedia LLC
$108.7B (2016-10-22)
sell # Total
> $1B 5 $7.5B
TOTAL $7.5B
Largest AT&T Wireline, Broadband and Video Operations
$2.0B (2013-12-17)

M&A Connections

Deals
Acquired from
Investor(s)
35%
13 (35%)
Strategic(s)
8%
3 (8%)
Divested to
Investor(s)
17%
4 (17%)
Strategic(s)
71%
17 (71%)

Company Summary

SECTOR

Communications

Revenue

122,428   2% 2023
120,741   10% 2022
134,038   22% 2021
171,760   6% 2020
181,193   7% 2019
170,756   7% 2018
160,546   2% 2017
163,786   12% 2016
146,801   11% 2015
132,447   3% 2014
128,752   2% 2013
127,434   2012
(millions of USD) Show More Show Less

Employees

148,290

Established

1983

Public

NYSE: T

Former Name

SBC Communications Inc.

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