AT&T Inc. (NYSE:T) is considering options for its Digital Life home security unit, including a sale, as the company looks to reduce debt after its planned $85.4 billion purchase of Time Warner Inc, according to a recently published report by Reuters citing sources close to the matter.
The Dallas, Texas-based company entered the United States home security market with the launch of Digital Life in 2013. Digital Life offers sensors and cameras to the customers so they can keep a check on their homes via their phones. However, the service accounted for a very small fraction of the company’s overall revenue last year. The report said that the service may get an offer of nearly $1 billion in a potential sale. This would do little to limit AT&T’s debt, which was nearly $143.7 billion as of June 30.
The U.S. Department of Justice is currently reviewing the AT&T and Time Warner agreement. However, AT&T expects the deal to close by the end of this year.
AT&T Inc. (NYSE:T) opened at $37.50 on Friday, and after hitting a high price of $37.61 and a low price of $ 37.20, finally closed at $37.37 on traded volume of 23.02 million shares. The 52-week range of the stock is $35.81 – $43.03. The stock hasn’t performed well so far this year, as it has declined more than 12 percent year-to-date. The company’s market cap is $228.05 billion.