Gte To Buy Bbn In $616 Million Deal
Greatly widening its grab for Internet business, GTE Corp. on Tuesday said it would buy BBN Corp. in a $616 million deal that creates a powerful new rival to AT&T Corp. and other Internet access providers.
Already the nation’s largest local telephone company, GTE plans to use BBN’s high-tech network to offer large businesses hungry for Internet access a single source for a broad array of telecommunications services.
BBN, based in Cambridge, Mass., helped build the modern Internet. It operates regional computer networks and offers services for businesses such as dial-up access, consulting and hosting of World Wide Web sites.