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AT&T buying wireless backhaul provider

AT&T Inc. agreed to acquire wireless backhaul provider FiberTower and its millimeter wave spectrum rights, according to a Feb. 1 official blog post.

Financial terms of the deal were not disclosed. The proposed acquisition is expected to help the carrier use FiberTower's mmWave spectrum assets for 5G services in the future.

AT&T is in advanced talks with power companies and other entities to test its Project AirGig technology, which aims to deliver low-cost, multigigabit wireless internet speeds using power lines in at least two locations by this fall. The project involves transporting mmWaves over power lines.

FiberTower is a privately held provider of spectrum and fixed wireless services.