In a move to expand its services arm, AT&T yesterday signed a deal to buy IBM's Global Network unit for $5 billion in cash. Yet the long distance spinoff of old Ma Bell is still looking over its shoulder, as rival MCI WorldCom gains in size and strength. What's a telco to do in these competitive days? AT&T's answer seems clear: Buy more.
IBM's albatross, AT&T's treasure
Big Blue chief Lou Gerstner probably heaved a sigh of relief when AT&T said it would buy the company's global network in a multibillion deal.
AT&T buys Big Blue unit for $5 billion
In a deal that has been rumored for months, AT&T announces it will acquire IBM's Global Network business, which provides business applications for networked companies, for $5 billion in cash.
MCI WorldCom growth to outstrip AT&T
For a few heady moments on Wall Street, the market value of MCI WorldCom passes up that of the godfather of telephone companies, AT&T.
PointCast, telco deal in the works?
Is PointCast vying to become to the telcos what @Home Network is to the cable operators by helping to attract users to high-speed Net access via copper wires?
Bells enlist Intel, Compaq in data battle
audio | update
Five of the nation's biggest local phone companies join with Intel, Compaq, Microsoft, and Gateway to petition the federal government for new rules governing high-speed Internet access.
From Bells to bits
Several disparate events and technology shifts have wedded the telecommunications and networking industries in an unusual coupling driven by the explosion of Internet use.