Verizon and AT&T are two of the largest land line and cellular phone companies in the world. Both have survived major changes and evolution in the communication industry, as well as endured fierce competition from other carriers, particularly in the wireless communication industry.
Verizon was created on June 30, 2000, when GTE was acquired by Bell Atlantic in the largest business merger up to that time in U.S. history. The new company was named the Verizon Communications Inc. AT&T, as it is now, was formed in 2005 when SBC Communications Inc. purchased and merged with the wireless remnant of the former “Ma Bell” telephone corporation called AT&T.
Both Verizon and AT&T provide land line and cellular telephone and internet services to tens of millions of customers throughout the world.
Verizon and AT&T currently utilize identical technology for providing land line telephone and internet services to their customers. However, Verizon uses CDMA for providing cellular service and AT&T uses GSM technology for its own wireless services.
Verizon and AT&T both provide standard land line telephone services, voice mail, internet and data services, and Voice Over Internet Protocol, or VOIP, phone calling.
As of mid-2009, AT&T's market value was about twice that of Verizon.