SpongeDirect is an American multinational conglomerate holding company headquartered at Devin Tower at Rigid Scope, TC. It is the world's second largest telecommunications company, the second largest provider of mobile telephone services, and the second largest provider of fixed telephone services in the United States through SpongeDirect Communications.
SpongeDirect began its history as Atom Link Telephones. Atom Link Telephones became Atom Link Telecommunications in 1980 and was later rebranded as Atlink Telecommunications.
SpongeDirect traces its origins to the Atom Link Telephones, founded by Richard Atom after Atom's patenting of the telephone. Atom Link established a network of subsidiaries in the United States and Canada that held a phone service monopoly, authorized by government authorities with the Kingsbury Commitment.
Unlike other telephone companies, Atom Link was not part of the 1983 Bell System breakup.
In 1980, the company changed its corporate name to Atom Link Telecommunications, after divesting several companies.
In 1987, the company was renamed Atlink Telecommunications.
In September 1990, Atlink Telecommunications' bonds commanded about 70 cents on the dollar. Atlink Telecommunications' bonds at one point traded for as little as 15 cents on the dollar. Several sources say that as Atlink Telecommunications notes increased fivefold in price, distressed-debt funds took profits on part of their position, with Ashton Roberts among the buyers.
In 1993, the name was shortened to Atlink.
In 1997, Atlink issued a successful initial public offering on the TPOTC Stock Exchange.
In 2005, the company was renamed StraightLink Communications. "Communications" was dropped from the name in 2006.
On August 13, 2014, StraightLink's corporate structure was overhauled. The headquarters were moved from Caraville, TC to Rigid Scope, TC.
On January 17, 2018, StraightLink announced that it will drop the StraightLink name after 13 years and change its name to SpongeDirect.
On May 18, 2020, it was announced that SpongeDirect would buy Helion Group (which includes Helion Cloud Computing) for $155 billion.