Monday, March 4, 2024

AT&T seeks to do away with its cybersecurity division

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AT&T Inc, the second-biggest USA wireless carrier, is seeking a sale of its cybersecurity division, potentially to do away with its acquisition five years ago.

The sale of the cybersecurity division would add to a series of divestments AT&T has turned to for paying down its debt. AT&T Inc purchased Time Warner Inc. for $108.7 billion in 2018.

AT&T has sold a 30% stake in its pay-TV unit DirecTV for $1.8 billion and collected $40.4 billion by spinning off and merging its Warner Media business with Discovery Communications to form Warner Bros Discovery Inc.

AT&T is working with Barclays Plc to get potential bids for its cybersecurity division. As per the sources, the deal is uncertain yet.

AT&T’s cybersecurity division helps small and medium businesses to keep their information technology networks, including laptops, mobile devices, desktops, and servers secure.

AT&T decreased its overall debt by around $24 billion in the last year and is aiming to reduce it to around $100 billion by 2025.

Moody’s Investors Service Inc. said, “Paying down debt was central to AT&T’s ability to invest in fiber and 5G wireless technology while continuing to afford to pay out a dividend.”

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