Straight Path Communications In
STRP
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Communication Services
- Industry
- Telecommunications Services
- Address
- IPO Date
- Jul 24, 2013
- Similar Companies
- Business
- Straight Path Communications Inc. (STRP) operates as a wholly owned subsidiary of Verizon Communications Inc., holding and leasing an extensive portfolio of FCC-licensed wireless spectrum in the 28 GHz and 39 GHz millimeter wave bands suitable for 5G and next-generation fixed wireless broadband services; it provides fixed wireless services to wireless internet service providers (WISPs) and mobile network operators (MNOs), including leasing and related services for last-mile, mid-mile, fixed access, and backhaul applications to internet service and telecommunications providers. The company develops next-generation wireless technology through its Straight Path Spectrum and Straight Path Ventures subsidiaries. Founded in 2013 as a spin-off from IDT Corporation and headquartered in Glen Allen, Virginia, Straight Path primarily serves customers across the United States with nationwide spectrum coverage, including deep holdings in major metropolitan markets totaling over 175 billion MHz-PoPs in 39 GHz spectrum. In a major strategic development, Verizon completed its acquisition of Straight Path in February 2018 for approximately $3.1 billion in an all-stock transaction at $184 per share, following a bidding war that topped an initial AT&T offer and included FCC approval along with a $614.3 million civil penalty settlement for prior spectrum use violations. This transaction integrated Straight Path's valuable millimeter wave assets into Verizon's network to accelerate 5G deployment nationwide. More recently, in December 2025, the Delaware Supreme Court affirmed the dismissal of shareholder claims against IDT and related parties concerning the 2017-2018 sale process, resolving lingering litigation over fiduciary duties and transaction fairness. No significant new acquisitions, partnerships, funding rounds, product launches, or operational expansions have been reported for Straight Path since its integration into Verizon.