AT&T on Friday announced the closing of its $207 million acquisition of FiberTower Corp., along with its millimeter wave spectrum holdings.

Company officials said the transaction would give AT&T "a significant footprint in the 39 GHz band, with average holdings of more than 375 MHz in the top 100 markets."

The agreement was first announced about one year ago, but critics called for federal regulators to block the deal to prevent a top carrier from accruing "650 terminated licenses at potentially less than market value."

The company said an FCC order late last month addressed unresolved regulatory issues and "paved the way" for the deal to move forward, although one commissioner complained that the full FCC did not vote on that order.

"AT&T plans to use the millimeter wave spectrum obtained in the deal to help meet its goal of being the first U.S. company to introduce mobile 5G in a dozen markets by late 2018," the company said in a statement.