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

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.