On November 18th 2005, SBC Communications acquired AT&T Corp. The two companies were part of a $16 billion fusion. SBC Communications will change their name to AT&T, Inc. and the company will have a new logo. SBC no longer exists as a name for the products and services of the company.
Edward Whitacre, CEO of SBC said that "The AT&T name has a proud and storied heritage, as well as unparalleled recognition around the globe among both businesses and consumers". Whitacre explained that AT&T is a name that represents what the new company intends to deliver: quality, customer service, innovation and reliability.
The combination of these two companies had to go through a 10-month process of review. The United States Department of Justice, the Federal Communications Commission, 36 states, the District f Columbia and 14 countries examined this union.
The final step of the transaction came when it was approved by the California regulators. This new company will start an integration process that will give benefits to customers and stockholders.
The new AT&T is the largest telecommunications company in the United States. Their companies are worldwide leaders in providing IP-based communications services to their customers.
The company is the leader in DSL Internet, local and long-distance voice, and directory publishing and advertising services in the United States. Cingular Wireless is recognized as the best wireless service provider in the United States. The new AT&T owns 60% of Cingular Wireless. November 21st was the first day of operation of the company as AT&T, Inc.