AT&T is exploring the sale of its cybersecurity division, adding to a string of divestments AT&T has turned to in order to pay down debt following its $100-billion acquisition of Time Warner Inc in 2018.
In the last two years, AT&T sold a 30% stake in its pay-TV unit DirecTV to TPG for $1.8 billion and received $40.4 billion in cash by forming Warner Bros Discovery Inc. as a result of merging its Warner Media business with Discovery Communications.
AT&T has been working with Barclays Plc to solicit potential bids for its cybersecurity business, worth roughly $600 billion when acquired as Alienvault in 2018.
AT&T’s cybersecurity division helps make networks resilient by offering consulting services, endpoint and network security as well as threat detection and response. AT&T Cybersecurity is named among the top managed security service providers globally.
The company is aiming to reduce its debts further to $100 billion by 2025, from $132.2 billion at the end of December 2022.