ATN International explained

ATN International, Inc.
Type:Public
Traded As:NASDAQ:
Former Name:Atlantic Tele-Network, Inc.[1]
Location City:Beverly, Massachusetts
Location Country:U.S.
Industry:Telecommunications
Revenue:US$451.206 million (2018)[2]
Operating Income:US$62.097 million (2018)[3]
Net Income:US$36.014 million (2018)[4]
Assets:US$1,109.386 million (2018)[5]
Num Employees:1000[6]
Subsid:Commnet Wireless (Choice Wireless)
GT&T
Viya
One Communications
Stilmark
Fireminds
Logic
Vibrant Energy
Alaska Communications
Geoverse

ATN International, Inc. (ATN) formerly known as Atlantic Tele-Network, Inc., is a publicly traded telecommunications company that is headquartered in Beverly, Massachusetts. It operates digital wireless, wireline, and both terrestrial and submarine fiber optic networks, serving markets that are geographically separated and technically challenging, such as the plains, deserts, and mountainous areas of the United States.

ATN's expertise is operating in underserved or niche markets, growing its business organically and through acquisitions by providing an alternative to national carriers.

On March 12, 2004, the company reported total operating revenues rose 11% to $78.9 million, as compared to $70.8 million for 2002.[7]

Wired services

ATNI also operates Wireline and Fiber Services through GT&T (Guyana).[8] In July 2016 ATNI acquired the Virgin Islands landline and wireless assets of Innovative Communications Corporation from Rural Utilities Cooperative Finance Corporation due to foreclosure.[9] The combined United States Virgin Islands operating company is named Viya.[10]

Wireless service

ATN operates wireless service in the United States as both a wholesale and a regional cellular provider via its subsidiary companies of Commnet Wireless, LLC (US)(Wholesale) in the western United States and Viya in the US Virgin Islands.

ATN also operates international cellular service as One in Bermuda. ATN previously owned Islandcom Wireless in Turks & Caicos (now defunct and had its former customers transferred to the Liberty Latin America-owned LIME/FLOW).[11] [12]

Acquisition of Alltel assets

On April 26, 2010, ATN acquired certain former Alltel wireless assets that Verizon Wireless was required to divest as part of the regulatory approvals granted for its purchase of Alltel earlier that year. Since that time, ATN, through its Alltel subsidiary Allied Wireless, has served subscribers primarily in rural areas across Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho.[13]

Sale of Alltel assets

On January 22, 2013, AT&T announced[14] that it had signed an agreement with Atlantic Tele-Network to acquire the company's U.S. retail wireless operations, operated under the Alltel brand, for $780 million in cash. Under terms of the agreement, AT&T will acquire wireless properties, including licenses, network assets, retail stores and approximately 585,000 subscribers.[15]

Divestiture of Sovernet

In August 2016, ATN announced that it agreed sell its New England operations in Sovernet Communications and Sovernet's subsidiary Independent Optical Network (ION), operations to Oak Hill Capital Partners[16] [17] by early 2017.

See also

External links

Notes and References

  1. Atlantic Tele-Network is Now ATN International. Atlantic Tele-Network, Inc.. GlobeNewswire. June 21, 2016.
  2. Web site: Atlantic Tele Network inc. Form 10k fiscal year 2014. Investor relations. Edgar Online. 26 April 2015.
  3. Web site: Atlantic Tele Network inc. Form 10k fiscal year 2014. Investor relations. Edgar Online. 26 April 2015.
  4. Web site: Atlantic Tele networks. 10k fiscal year 2014. investor relations ATNI. Edgar online. 26 April 2015. page 35.
  5. Web site: Atlantic Tele Network inc. Form 10k fiscal year 2014. Investor relations. Edgar Online. 26 April 2015.
  6. Web site: Atlantic Tele Network inc. Form 10k fiscal year 2014. Investor relations. Edgar Online. 26 April 2015.
  7. Web site: Atlantic Tele-Network, Inc. Reports 2003 Full Year Earnings Increase of 29% And fourth Quarter Earnings Increase of 25% Over fourth Quarter 2002.
  8. http://www.atni.com/structure.html Corporate Structure
  9. https://stcroixsource.com/2016/07/02/atn-completes-acquisition-of-innovative/ St. Croix Source: July second, 2016: ATN completes acquisition of Innovative
  10. https://viyavi.com/innovative-and-choice-wireless-enter-a-new-era-as-viya/ Viya: April 24, 2017: Innovative and Choice Wireless Enter A New Era As Viya
  11. http://www.atni.com/structure.html Corporate Structure
  12. Web site: Atlantic Tele-Network reports 9M15 revenue increase; updates on M&A progress. 2020-09-11. Comms Update.
  13. Web site: 2010-10-03. Alltel lives on in Allied Wireless. 2020-09-11. Arkansas Online. en.
  14. Web site: Epstein. Zach. 2013-01-22. AT&T to acquire Alltel for $780 million. 2020-09-11. BGR. en-US.
  15. Web site: AT&T snatches up Alltel's US operations for $780 million. Engadget. en. 2020-04-27.
  16. Web site: Oak Hill Partners acquires Sovernet Communications, further expands Northeast fiber network presence. 2020-09-11. FierceTelecom. en.
  17. Web site: Bellows Falls company to be purchased by private equity firm. 2020-09-11. The Brattleboro Reformer. en.