Tag: lumen

Lumen Technologies has sold its European, Middle Eastern, and African (EMEA) business to Colt Technology Services in a deal that will give the outfit $1.8  billion.

Lumen plans to use the proceeds on debt reduction, which will free the company up to fund its plans for future growth, which include a focus on Network as a Service (NaaS) – specifically, the Lumen Internet on Demand offering, fibre, and Secure Access Service Edge (SASE).

Flogging the family silver has been part of the company’s strategy over the last year as things have not been going very well for the outfit.

Lumen in November 2022 announced the exclusive arrangement for the proposed sale of its EMEA business to Colt Technology Services.

The company in 2022 also finalised the $7.5 billion sale of its incumbent local exchange carrier (ILEC) business, which included its consumer, small business, wholesale and mostly copper-served enterprise customers and assets in 20 states to Brightspeed, a brand new company that launched its operations last fall. Read more…

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.” Read more…