AT&T has agreed to acquire Straight Path in an all-stock deal worth about $1.6 billion.
Straight Path has significant spectrum holdings in the 28 GHz and 39 GHz millimeter wave bands, which will be put to use by some 5G technologies down the road.
The transaction has been approved by both companies, but it will require a thumbs up from the FCC. AT&T and Straight Path expect the deal to close in about 12 months.
