American Tower Corporation AMT has entered into a definitive agreement to acquire CoreSite Realty Corporation COR for roughly $10.1 billion. The combined company will cater to the growing need for convergence between mobile network providers, cloud service providers, and other digital platforms amid accelerating global 5G deployments.The data center management company, CoreSite, consists of 25 data centers, 21 cloud on-ramps and more than32,000 interconnections in eight major U.S. markets. As of Sep 30, 2021,CoreSite generated annualized revenues and adjusted EBITDA of $655 million and $343 million, respectively. Hence, the property buyout is likely to increase American Tower’s scale.Moreover, with the addition of CoreSite’s data and cloud management capabilities to its mobile edge compute business American Tower will be able to offer a huge variety of 5G and cloud solutions.Per management, “We expect the combination of our leading global distributed real estate portfolio and CoreSite’s high quality, interconnection-focused data center business to help position American Tower to lead in the 5G world.”The transaction, expected to close by the end of this year, will likely be accretive to American Tower’s adjusted funds from operations (AFFO) per share and be increasingly accretive over time.This marks American Tower’s second acquisition deal this year. Previously, AMT agreed to acquire Telxius Towers for $9.4 billion in cash in January. In June, it closed the first tranche of this previously announced acquisition, which comprised roughly 20,000 communications sites in Germany and Spain.Shares of this Zacks Rank #3 (Hold) company have appreciated 5.9% compared with its industry's 10.9% growth, in the past six months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchHowever, tenant concentration is very high for American Tower. In fact, of its top three customers, Verizon VZ and AT&T T accounted for majority of the company’s total revenues.Hence, loss of either Verizon or AT&T, consolidation among them, or reduction in network spending will significantly hamper American Tower’s top line. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Tower Corporation (AMT): Free Stock Analysis Report AT&T Inc. (T): Free Stock Analysis Report Verizon Communications Inc. (VZ): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research