M&A Deal Summary

Verizon Communications Acquires GTE

On June 16, 2000, Verizon Communications acquired communications company GTE for 64.7B USD

Acquisition Highlights
  • This is Verizon Communications’ 1st transaction in the Communications sector.
  • This is Verizon Communications’ largest (disclosed) transaction.
  • This is Verizon Communications’ 1st transaction in the United States.
  • This is Verizon Communications’ 1st transaction in Connecticut.

M&A Deal Summary
Date 2000-06-16
Target GTE
Sector Communications
Buyer(s) Verizon Communications
Deal Type Merger
Deal Value 64.7B USD

Target

GTE

Stamford, Connecticut, United States
GTE Corporation was a large independent telephone company in the United States.

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Buyer(S) 1

Buyer

Verizon Communications

New York, New York, United States
Category Company
Founded 1983
Sector Communications
Employees104,400
Revenue 134.0B USD (2023)
DESCRIPTION
Verizon storefront in New York City.
Verizon storefront in New York City.

Verizon Communications is a provider of communications, information, and entertainment products and services to consumers, businesses and governmental agencies. Verizon offers voice, data and video services and solutions on wireless and wireline networks that are designed to meet customers’ demand for mobility, network connectivity, security and control. Verizon Communications was founded in 1983 and is based in New York City.

DEAL STATS #
Overall 1 of 34
Sector (Communications) 1 of 13
Type (Merger) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 32
Year (2000) 1 of 1
Size (of disclosed) 1 of 15
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-11-21 Sacramento-Valley

Sacramento, California, United States

Sacramento Valley Limited Partnership provides wireless communications services in portions of Northern California and Nevada under the Verizon Wireless brand.

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