Verizon Communications, Inc. history, company profile (overview) and history video
Verizon Communications, Inc. is a multinational communications technology company headquartered in New York, United States.
The company operates through the Wireless segment providing wireless communications services, and the Wireline segment providing broadband video and data; corporate networking solutions; data center and cloud services; security and managed network services; and local & long-distance voice services.
HISTORY
Verizon was formed in 2000 through the merger of Bell Atlantic Corp. and GTE Corp.
The merger between Bell Atlantic Corp. and GTE Corp is considered one of the largest in U.S. business history.
The meaning of the name Verizon derives from the combination of the words veritas, Latin for truth, and horizon.
Bell Atlantic Corporation
Bell Atlantic’s origins date back to the beginnings of the telephone business in the late 19th century. Alexander Graham Bell invented the electric telephone in 1876 and formed The Bell Telephone Company in Boston with his father-in-law in 1877.
The Bell System was also founded in 1877 and was the system of companies that dominated the telephone services industry in North America until 1984. It was led by Bell Telephone Company and later by American Telephone and Telegraph Company (AT&T), which was formed in 1885 and became the parent company of the Bell System in 1899.
Bell Atlantic Corporation was created as one of the original Regional Bell Operating Companies (RBOCs) in 1984, when the United States Department of Justice mandated AT&T Corporation to break up the Bell System into seven “Regional Bell Operating Companies” (known as “Baby Bells”): Ameritech, Bell Atlantic, BellSouth, NYNEX, Pacific Telesis, Southwestern Bell, and US West.
In 1997, Bell Atlantic and NYNEX agreed to merge their remaining operations and formed the “new” Bell Atlantic.
In 2000, Bell Atlantic formed Verizon Wireless in a joint venture with Vodafone.
GTE Corporation
GTE Corporation (formerly General Telephone & Electronics Corporation) was one the largest independent telephone companies in the United States during the days of the Bell System. It operated from 1926, with roots tracing further back than that.
Verizon
In 2002, Verizon launched the first 3G (third generation) network in the U.S.
In 2005, Verizon acquired MCI.
In 2007, Verizon acquired CyberTrust, a provider of global information security services.
In 2008, the company acquired Rural Cellular.
In 2009, Verizon acquired Alltel Wireless and became one of the largest wireless carriers in the U.S.
In 2010, the company introduced the first large-scale 4G LTE network in the United States.
In 2011, the company acquired Terremark, an information technology services company.
In 2012, Verizon expanded its service offerings in automotive, transportation and healthcare by acquiring Hughes Telematics, an information technology services company.
In 2014, the company acquired Intel Media’s cloud TV assets, including its OnCue internet TV service
In 2015, Verizon acquired AOL, one of the leading companies in digital content and advertising.
In 2015, Verizon created the 5G Technology Forum (5GTF) – bringing together key partners like Ericsson, Qualcomm, Intel, and Samsung – to move the entire 5G ecosystem forward.
In 2016, the company acquired Volicon, XO’s fiber-optic network, Telogis, Sensity Systems Inc., and Fleetmatics, a global provider of fleet and mobile workforce management services.
In 2017, Verizon Communications acquired Yahoo. It also acquired Skyward, adding drone operations management to the IoT portfolio.
In 2017, Verizon combined Yahoo’s internet assets with its AOL business to create Oath. Oath’s portfolio includes HuffPost, Yahoo Sports, AOL.com, and other media and technology brands.
In 2019, Oath was rebranded as Verizon Media.
In 2019, the company acquired ProtectWise, Inc., a provider of cloud-delivered Network Detection and Response.
In 2019, Verizon introduced 5G mobile service to customers in Chicago and Minneapolis, which were the first in the world to have a 5G-enabled smartphone connected to a 5G network.
In 2021, Verizon completed the agreement with America Movil to acquire TracFone Wireless, Inc., one of the leading U.S. pre-paid and value mobile providers.
In 2021, the company also entered into an agreement to acquire incubed IT, expanding Verizon’s robotic capabilities.
In 2021, Verizon sold Verizon Media, including AOL and Yahoo, to Apollo Funds.
In 2021, Verizon partnered with Amazon on Project Kuiper, an advanced low Earth orbit (LEO) satellite network.
In 2021, Verizon collaborated with Google to deliver 5G mobile.
With over 150 locations and more than 140,000 employees, Verizon Communications, Inc. is considered one of the largest telecommunications companies. According to Forbes, it is considered one of the World’s Most Valuable Brands and one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.verizon.com.
**Video published on YouTube by “Companies History“.