Skip to main content

Market Overview

Tyto Athene To Acquire AT&T's Defense IT Professional Services Business

Share:
  • Tyto Athene inked an agreement to acquire AT&T Inc’s (NYSE: T) Department of Defense IT professional services business, AT&T Government Solutions, Inc. (GSI).
  • The financial terms of the transaction were not disclosed.
  • AT&T and Tyto will also focus upon opportunities in the DoD IT professional services market under the arrangement.
  • Tyto was created in August of 2018 upon acquiring the Government Solutions division of Black Box Corporation by Arlington Capital Partners. Further in 2019, Tyto acquired Island Information Technology Consultants, a unified communications solution provider to the Intelligence Community.
  • The deal can create a pure-play provider of IT professional services and solutions to critical US Government agencies.
  • Tyto, continue to be poised to benefit from the secular tailwinds of US Government investment in legacy IT modernization and cybersecurity efforts.
  • Price action: T stock was up 2.141 at $28.81 on the last check Wednesday.
 

Related Articles (T)

View Comments and Join the Discussion!

Posted-In: Defense ServicesM&A News Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com