M&A Deal Summary

Frontier Communications Parent Acquires AT&T Wireline Broadband and Video Operations

On December 17, 2013, Frontier Communications Parent acquired communications company AT&T Wireline Broadband and Video Operations from AT&T for 2.0B USD

Acquisition Highlights
  • This is Frontier Communications Parent’s 5th transaction in the Communications sector.
  • This is Frontier Communications Parent’s 3rd largest (disclosed) transaction.
  • This is Frontier Communications Parent’s 5th transaction in the United States.
  • This is Frontier Communications Parent’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2013-12-17
Target AT&T Wireline Broadband and Video Operations
Sector Communications
Buyer(s) Frontier Communications Parent
Sellers(s) AT&T
Deal Type Divestiture
Deal Value 2.0B USD

Target

AT&T Wireline Broadband and Video Operations

Connecticut, United States
AT&T Wireline, Broadband and Video Operations, comprises 415,000 data, 875,000 voice, and 215,000 video connections in Connecticut.

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Buyer(S) 1

Buyer

Frontier Communications Parent

Dallas, Texas, United States

Category Company
Founded 1935
Sector Communications
Revenue 5.7B USD (2023)
DESCRIPTION

Frontier Communications Parent is a provider of broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses, and home offices, and advanced communications for medium and large businesses in 27 states. Frontier Communications Parent was founded in 1935 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 5 of 6
Sector (Communications) 5 of 6
Type (Divestiture) 3 of 4
State (Connecticut) 1 of 1
Country (United States) 5 of 6
Year (2013) 2 of 2
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-17 New Cingular Wireless Services

Redmond, Washington, United States

New Cingular Wireless Services, Inc., doing business as AT&T Mobility, provides wireless communications service in the United States.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-05 Verizon Communications - Wireline Operations in California Florida and Texas

New York, New York, United States

Verizon's Wireline Operations in California, Florida and Texas include 3.7 million voice connections, 2.2 million broadband connections, and 1.2 million FiOS® video connections.

Buy $10.5B

Seller(S) 1

SELLER

AT&T

Dallas, Texas, United States

Category Company
Founded 1983
Sector Communications
Employees148,290
Revenue 122.4B USD (2023)
DESCRIPTION
AT&T's corporate headquarters in downtown Dallas, Texas.
AT&T's corporate headquarters in downtown Dallas, Texas.

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.


DEAL STATS #
Overall 12 of 24
Sector (Communications) 7 of 11
Type (Divestiture) 8 of 20
State (Connecticut) 1 of 1
Country (United States) 11 of 21
Year (2013) 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-01 Ingenio

San Francisco, California, United States

Ingenio is a peer-to-peer e-commerce marketplace, connecting customers and advisors through its proprietary web and telephony technology platform. Ingenio was founded in 1999 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 Leap Wireless International

San Diego, California, United States

Leap Wireless International, Inc. is a US telecommunications company that provides wireless services to subscribers through its Cricket Communications, Inc. subsidiary.

Buy $1.2B