AT amp;T buys Qualcomm wireless spectrum

AT&T has completed its acquisition of wireless spectrum from Qualcomm in a deal worth roughly $1.9 billion.

The telecommunications company expressed interest in buying the spectrum in December 2010, but was held up by an investigation by the Federal Communications Commission (FCC). Approval was granted last week after AT&T withdrew its controversial bid to buy T-Mobile.The 700 MHz spectrum was previously used by Qualcomm for its FLO TV system, a mobile TV broadcasting technology that flopped and was eventually discontinued.The spectrum will cover over 300 million people, giving AT&T a significant boost to its Long Term Evolution (LTE) business.This is particularly important given the general lack of spectrum telecommunications providers have been experiencing in recent years, resulting in numerous bidding wars and acquisitions. The continuing popularity of smartphones and tablet computers will ensure that spectrum demand remains strong in years to come.