Lumen and Colt Technology have entered into an exclusive arrangement for the proposed sale of Lumen’s Europe, Middle East and Africa (EMEA) business to Colt for $1.8 billion.
The envisaged transaction involves Lumen flogging its EMEA business, including its terrestrial and subsea networks, data centres and network equipment to London-headquartered Colt.
When the dust has settled Lumen will invest in core businesses that are expected to drive long-term, profitable growth.
Lumen President and CEO Jeff Storey, said: “This transaction would enhance our focus so we can invest more efficiently in our most strategic opportunities – our key Enterprise and Quantum Fiber initiatives – and partner with regional leaders like Colt in Europe and Cirion in Latin America to continue serving our multinational enterprise customers.”
Colt Technology CEO Keri Gilder said that the transaction would mark the next chapter in Colt’s history.
“We’re deeply committed to building extraordinary connections for our people, customers and partners across our digital infrastructure. This acquisition would strengthen and extend these connections across existing and new geographies, helping us to accelerate growth and bring the power of the digital universe closer to our customers.”
Colt is a global digital infrastructure business with over 60 offices around the world. The transaction will extend Colt’s infrastructure to new geographic markets, boosting the services and capabilities it delivers to global enterprises and strategic partners.
