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What does ACE stand for?

ACE stands for Acquisition of Combined

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"Acquisition" usually refers to a purchase of a smaller firm by a larger one. Sometimes, however, a smaller firm will acquire management control of a larger and/or longer-established company and retain the name of the latter for the post-acquisition combined entity. This is known as a reverse takeover. Another type of acquisition is the reverse merger, a form of transaction that enables a private company to be publicly listed in a relatively short time frame.
Following its acquisition of DirecTV less than a few weeks ago, AT&T is already starting to introduce combined plans that incorporate both wireless and TV service.