AT&T Inc., a premier communications holding company, has secured a project worth  $346 million from Georgia Technology Authority (GTA) to provide managed Wide Area Network (WAN), Voice, and Local Area Network (LAN) services across state government agencies.

Under the five year contract, the AT&T solution will integrate new communications equipment, delivering more advanced communication capabilities for Georgia State officials and employees.

In addition, the contract provides the state with a disaster recovery solution and information security services so government operations can be maintained in the event of a natural or man-made disaster.

According to market experts, the extensive deployment of managed network services will establish a more robust and efficient network for Georgia's government operations, a centralized management model and standardized service levels across the state.

The stock of AT&T closed on Thursday at $ 24.51, down 3 percent compared to previous close of $25.23.