DENVER, Nov. 1, 2023 /PRNewswire/ — Lumen Technologies (NYSE: LUMN) closed the sale of its European, Middle Eastern, and African (EMEA) enterprise to Colt Technology Services, headquartered in London, for $1.8 billion money. This transaction represents a beautiful a number of (~11x) for Lumen’s EMEA enterprise and delivers important worth to Lumen’s stakeholders.

“We’re excited about what this transaction does for our customers and for Lumen,” mentioned Kate Johnson, Lumen CEO. “Our focus on building deep relationships with strategic partners allows us to simplify our business while delivering a seamless networking experience for our multinational customers. Through our strong relationship with Colt, both companies are well positioned for future growth.”    

Lumen will stay a key strategic associate for Colt’s prospects’ wants in North America. The Lumen community stays one of many largest, most deeply peered on the earth. A small group of gifted Lumen workers will proceed to assist operations in EMEA.

Visit right here for extra info on today’s announcement.

Additional Resources: 

• Lumen Enters into Agreement Regarding Divestiture of EMEA Business to Colt Technology Services for $1.8B Nov. 2, 2022 News Release

About Lumen Technologies:
Lumen connects the world. We are igniting enterprise progress by connecting folks, knowledge, and functions – rapidly, securely, and effortlessly. Everything we do at Lumen takes benefit of our community energy. From metro connectivity to long-haul knowledge transport to our edge cloud, safety, and managed service capabilities, we meet our prospects’ wants at present and as they construct for tomorrow. For information and insights go to information.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies, and YouTube: /lumentechnologies. 

Forward Looking Statements:
Except for historic and factual info, the issues set forth on this launch embrace forward-looking statements (as outlined by the federal securities legal guidelines), that are topic to the “safe harbor” protections thereunder. These forward-looking statements are usually not ensures of future outcomes and are based mostly on present expectations solely, are inherently speculative, and are topic to various assumptions, dangers and uncertainties, lots of that are past our management. Actual occasions and outcomes could differ materially from these anticipated, estimated, projected or implied by us in these statements. Factors that might have an effect on precise outcomes embrace, however are usually not restricted to, the chance that the anticipated advantages from the transaction and strategic relationship is not going to be totally realized within the method contemplated; the chance that it might be tougher than anticipated to segregate our divested enterprise from our different companies; the chance that our combination internet after-tax transaction proceeds could also be lower than anticipated; and different dangers referenced once in a while in our filings with the U.S. Securities and Exchange Commission. We undertake no obligation to publicly replace or revise for any purpose any of our forward-looking statements, which communicate solely as of the date made.

SOURCE Lumen Technologies