Howard Jonas is having a good month.

The businessman out of Newark, NJ has sold his wireless venture, Straight Path Communications (STRP) to Verizon (VZ) - Get Report for $3.1B. The number has nearly doubled since AT&T (T) - Get Report and Verizon got into a bidding war. 

On April 10th AT&T said it would buy the company for $95.63 a share, or $1.6B. The company's close prior to the original AT&T deal was $36.48, meaning the stock has more than quintupled since bidding commenced.

Straight Path had been previously chalked up to as a business loss for Jonas because until recently its airwaves were considered mostly useless. However, now they're crucial to 5G networks still in development. 

Read Related Articles:

• Verizon's $3.1 Billion Straight Path Deal Highlights 5G's Disruptive Broadband Potential
• Verizon Outbids AT&T for Straight Path
• Straight Path Soars Again on News of Increased Bid From AT&T Rival

Jim Cramer and the AAP team are discussing fallout from first-quarter earnings from Apple (AAPL) - Get Report and Facebook (FB) - Get Report and how to play the big tech names. Get hisinsights or analysis with a free trial subscription to Action Alerts Plus.