T-Mobile Acquires Layer3 TV™ for Undisclosed Sum

According to Bloomberg reports, T-Mobile has agreed to purchase Layer3 TV™, Inc., as the telecommunications company plans to launch its streaming TV service in 2018. Financial terms of the transaction were not disclosed.

Layer3 TV, founded in 2013, is a cable provider offering 275 channels in HD, with 4K image quality across different devices. According to the company, users can have 24/7 unlimited access to most shows and movies, with free HBO subscription included. They can also record eight shows at once and set up personalized profiles. The startup previously raised $72 million from North Bridge Ventures.