The largest US phone company, AT&T would be expanding to Europe through licensing of its mobile home watchdog products. This is vertical expansion as the company seeks to find new markets beyond its wireless services.
The central service is called AT&T's Digital Life product and through one's mobile device, the owners are able to watch over their houses for issues such as maintenance or security matters. Currently, there are thirty companies worldwide that have sought to license from the US wireless giant these products and services. Other lines of business include mobile wallet applications which are geared for the entrepreneur. Both of these products are ways to supplement revenues at a time of tepid growth because of the rapid expansion of either mobile carriers.
AT&T is also in discussion with OnAsset Intelligence Inc. to provide mobile services in wirelessly tracking high value cargo in transit.
With the announcement of the licensing, AT&T's share price rose by 0.8% to US$35.46 per share and the stock price has seen a continuous rise in the past twelve months, a total rise of 17%.
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