AT&T To Migrate 5G Mobile Network To Microsoft Cloud, Microsoft To Acquire AT&T's Network Cloud Platform, Engineering, Lifecycle Management Software - Microsoft (NASDAQ:MSFT), AT&T (NYSE:T)

AT&T Inc T will migrate its 5G mobile network to the Microsoft Corp MSFT cloud. Microsoft's Azure technologies will manage AT&T's mobile network traffic under the arrangement.
The companies will start with AT&T's 5G core, the software at the heart of the 5G network that connects mobile users and IoT devices with the internet and other services.
The migration of the network workloads to Azure for Operators will enable AT&T to increase productivity and cost-efficiency while focusing on delivering large-scale network services.
Microsoft will gain access to AT&T's intellectual property and technical expertise to grow its telecom flagship offering, Azure for Operators.
Microsoft is acquiring AT&T's carrier-grade Network Cloud platform technology. AT&T's Network Cloud platform has been running AT&T's 5G core at scale since the company launched 5G in 2018.
Additionally, Microsoft will acquire AT&T engineering and lifecycle management software. The software helps to develop and deploy a carrier-grade cloud that runs containerized or virtualized network services.
The financial terms of the transactions remain undisclosed.
Microsoft held $125.4 billion in cash and equivalents as of Mar. 31, 2021.
Price action: T shares traded higher by 0.44% at $28.79, and MSFT shares traded lower by 0.28% at $270.63 on the last check Wednesday.