Lumen takes $8.8 billion goodwill impairment charge

Lumen Technologies reported revenue $3.661 billion for the second quarter 2023, compared to $4.612 billion for the second quarter 2022. The company recorded a Net Loss of $(8.736) billion for the second quarter 2023, which included a non-cash goodwill impairment charge of $8.793 billion, compared to reported Net Income of $344 million for the second quarter 2022

(revenue for the second quarter of 2022 includes $707 million of revenue from the Latin American business divested Aug. 1, 2022 and the 20-state ILEC business divested Oct. 3, 2022)

Under GAAP, the company is required to perform periodic impairment tests related to its goodwill asset. The sustained decline in our share price during the second quarter was considered a triggering event requiring evaluation of goodwill impairment. Based on this analysis, the company recorded a non-cash $8.8 billion goodwill impairment charge in the second quarter of 2023. The goodwill impairment was driven by the difference between the company's market capitalization and the carrying value, primarily in its North America business reporting unit.

"In the second quarter, we made progress on our three-pronged growth strategy to secure the base, drive commercial excellence, and innovate for growth," said Kate Johnson, president and CEO of Lumen. "While it is early in our journey, we are driving solid revenue performance in our portfolio of next-generation growth products through intentional migration from legacy services, expanding our addressable market through network upgrades and product innovation, and improving operational excellence to better serve our customers."

https://ir.lumen.com/home/default.aspx

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Lumen partners with Genesys on cloud-based contact centers

Lumen Technologies has partnered with Genesys to launch a cloud-based Contact Center as a Service (CCaaS).

Lumen Solutions for Contact Center – Genesys Cloud is an all-in-one contact center solution for enterprise-grade and Public Sector-grade communications, collaboration, and customer experience management. The API-first, experience-orchestration platform enables organizations to coordinate every customer interaction and touchpoint with frictionless and connected experiences for customers and employees.

"Moving from older contact center infrastructure to the latest technologies is a major change for companies, but the massive improvements to efficiency and effectiveness make it worth the effort," said Craig Richter, senior director of UC&C product management for Lumen. "Legacy platforms are capital intensive, while newer cloud-based or hybrid solutions are much more flexible and cost effective."

https://lumen.com/en-us/communications/genesys-cloud

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Lumen deploys Corning's SMF-28 ULL fiber and SMF-28 Ultra fiber

Lumen Technologies recently upgraded over 24,000 route miles across its U.S. intercity network with new ultra-low-loss fiber capable of supporting wavelength services up to 400G and faster. 

Lumen is continuing to deploy Corning's SMF-28 ULL fiber and SMF-28 Ultra fiber in its multi-conduit infrastructure.

Lumen also confirmed plans for another 6 million fiber miles, expected to be installed by 2026.

"We are creating a next-gen network, and fiber type matters," said Andrew Dugan, Lumen chief technology officer. "As demand for optical fiber increases and technology evolves, Lumen's multi-conduit infrastructure means we can install the latest fiber type quickly and economically. It's difficult to upgrade legacy intercity networks without multiple conduits. These networks end up being stuck with older fiber technology. Lumen is fixing that issue with our upgraded technology. We can extend signal reach to help reduce equipment costs and increase bandwidth capacity. Using ultra-low-loss fiber on the Lumen network is a major component of what differentiates us from other network providers."

https://news.lumen.com/2022-12-06-Lumen-Invests-to-Expand-U-S-Intercity-Network-by-6-Million-Fiber-Miles

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Lumen expands fiber rollout in 30 U.S. metros

Lumen Technologies confirmed plans to expand its residential and small business fiber internet service, Quantum Fiber, in more than 30 cities and metro areas in the U.S.

Local Quantum Fiber teams are working on expansions in the following cities and surrounding metro areas:

Albuquerque, N.M., Boise, Idaho, Bozeman, Mont., Cheyenne, Wyo., Colorado Springs, Colo., Denver, Colo., Des Moines, Iowa, Fort Myers, Fla., Las Vegas, Nev., Minneapolis, Minn., Ocala, Fla., Omaha, Neb., Orlando, Fla., Phoenix, Ariz., Portland, Ore., Salt Lake City, Utah, Seattle, Wash., Spokane, Wash., St. Paul, Minn., Tallahassee, Fla., and Tucson, Ariz.

https://news.lumen.com/2022-11-16-Lumens-ultra-fast-fiber-move-is-massive

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Lumen to sell its EMEA business to Colt for $1.8B

Colt Technology Services (Colt) agreed to acquire Lumen's Europe, Middle East and Africa (EMEA) business for $1.8 billion.  The deal extends Colt's network into additional countries, European cities, and data centers.

The transaction represents a multiple of ~11x for Lumen's EMEA business. Lumen will continue to serve multinational enterprise customers through a strategic partnership with Colt.

"We are continuing to execute on portfolio optimization at Lumen, creating additional value for our shareholders by monetizing non-strategic assets at accretive multiples," said Lumen President and CEO Jeff Storey. "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."

"This transaction would mark the next chapter in Colt's exciting story of global growth and world-class innovation," said Keri Gilder, CEO, Colt Technology Services. "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."

https://www.colt.net/resources/lumen-enters-into-agreement-regarding-divestiture-of-emea-business-to-colt-technology-services-for-1-8b/

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Lumen wins $1.5 billion Defense Network contract

The  Defense Information Systems Agency (DISA) awarded a $1.5 billion contract to Lumen to provide essential network transport and communications services in the U.S. Indo-Pacific Command Area of Responsibility.

Lumen will supply the Defense Information Systems Network with high capacity, end-to-end communications services that enable the U.S. Department of Defense to achieve U.S. national security objectives in the 36-nation Asia Pacific region. These crucial services—which include Ethernet, Internet and wavelengths—will help protect America's interests in a diverse, strategically complex region that also includes Alaska. The contract extends over a 10 year period.

"Lumen is extremely proud to serve the U.S. Indo-Pacific Command with essential mission services that help protect and defend U.S. territory, our people and America's national interests," said Zain Ahmed, senior vice president, Lumen public sector. "We're delivering the always-on network infrastructure so the U.S. Department of Defense can focus on its mission to enhance the stability of the Asia Pacific region, promote security cooperation with our allies and partners, respond to emerging situations, deter aggression and if necessary, fight to win."

https://news.lumen.com/2022-11-01-Lumen-wins-1-5-billion-Defense-Information-Systems-Network-contract#assets_117:20788

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Lumen acquires fiber pair on Google's Grace Hopper transatlantic cable

Lumen Technologies has acquired a fiber pair on Grace Hopper, a subsea cable system spearheaded by Google, between New York and Bude, Cornwall in the U.K. The Grace Hopper system will use Lumen landing station and infrastructure services at both locations.

Lumen is taking orders now on Grace Hopper which will be active and ready to deliver services in October.

"Data flow and capacity demands don't know boundaries. The bandwidth explosion across continents is real and we're meeting it head on by investing in new subsea cables," said Laurinda Pang, Lumen president of global customer success. "The Grace Hopper system is part of Lumen and Google's long history of collaboration. Together, we're building communications infrastructures for secure and reliable delivery of digital enterprise and consumer services around the world. We are pleased to be using our landing stations at these locations, and excited to add another end-to-end intercontinental connection to the Lumen network – one of the most deeply peered networks in the world."

Lumen now has a transatlantic subsea portfolio with six on-net diverse fiber routes, including Dunant, a Google subsea system. Dunant connects Virginia Beach in the U.S. with Saint-Hilaire-de-Riez on the French Atlantic coast. Lumen has an on-net route utilizing Dunant between Richmond, Virginia and Paris, France.

https://news.lumen.com/2022-09-21-Lumen-invests-in-its-sixth-on-net-subsea-route-across-the-Atlantic#assets_117:20782

Google's Grace Hopper subsea cable lands in Cornwall

Wednesday, September 15, 2021  Google, Subsea, UK  

The Grace Hopper subsea cable has landed in Bude, Cornwall, UK. This follows a successful Bilbao landing earlier in September.Google says Grace Hopper will use a new switching architecture to provide optimum levels of network flexibility and resilience to adjust to unforeseen failures or traffic patterns. https://blog.google/around-the-globe/google-europe/united-kingdom/our-grace-hopper-subsea-cable-has-landed-uk/?linkId=131609522Google's Grace...

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Google's Firmina cable to link North and South America

Wednesday, June 09, 2021  Google, Subcom, Subsea  

Google announced plans to build a 12-fiber pair subsea cable linking North and South America via the Atlantic.The Firmina cable system, which will be designed, manufactured and installed by SubCom, will run from the East coast of the United States to Las Toninas, Argentina, with additional landings in Praia Grande, Brazil and Punta del Este, Uruguay. The Firmina system will use SubCom's 18kV power technology, which will enable Firmina to be...

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Google's Grace Hopper subsea cable to link US-UK-Spain

Tuesday, July 28, 2020  Google, Subsea  

Google unveiled plans for a new subsea cable — Grace Hopper — which will run between the United States, the United Kingdom and Spain. The cable is named for computer science pioneer Grace Brewster Murray Hopper (1906–1992), an admiral in the U.S. Navy best known for her work in developing the COBOL programming language. The Grace Hopper cable will be equipped with 16 fiber pairs (32 fibers). Subcom has been selected as the lead contractor. The project...

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Lumen opens online marketplace and portal for SASE

Lumen Technologies launched an all-digital experience for the purchase, configuration and management of enterprise SASE.

The Lumen Marketplace now allows enterprise to learn about SASE, select from multiple vendors, and purchase a solution based on their needs. Customers have the option to manage their own SASE solution, or have Lumen fully manage the deployment, implementation, and ongoing management of their customized SASE product.

Through the Lumen SASE Manager within the Control Center portal, customers configure their solution by location and user; add new sites, users, and services; and receive alerts and manage tickets.

SASE solutions from VMware and Fortinet are currently listed.

"The combination of Lumen SASE Solutions on the Marketplace and the Lumen SASE Manager is a game changer for enterprises looking for a simplified solution to upgrade their network and cybersecurity posture," said Darren Wolner, senior director of SASE product management for Lumen. "Feeling confident in the reliability and security of the network is critical, but for companies with distributed or hybrid workforces, this new reality has created unique security challenges. Lumen SASE Solutions provides customers with a product that is customized to their needs and enables them to securely connect to applications on any device, at any time, from virtually any location."

https://www.lumen.com/en-us/marketplace.html

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Vertical Systems: Lumen tops Mid-2022 U.S. Ethernet LEADERBOARD

Six companies achieved a position on Vertical Systems Group's mid-year 2022 U.S. Carrier Ethernet LEADERBOARD (in rank order based on retail port share as of June 30, 2022): Lumen, AT&T, Spectrum Enterprise, Verizon, Comcast Business and Cox Business. To qualify for a rank on this LEADERBOARD, network providers must have four percent (4%) or more of the U.S. retail Ethernet services market.

Challenge Tier citations were attained by the following six companies (in alphabetical order): Altice USA, Cogent, Frontier, GTT, Windstream and Zayo. The Challenge Tier includes providers with between 1% and 4% share of the U.S. retail Ethernet market.

“Share rankings on the U.S. Ethernet LEADERBOARD remain unchanged for the first half of 2022, however a shakeup is possible by the end of the year,” said Rick Malone, principal of Vertical Systems Group. “Escalating requirements for Gigabit Ethernet services – and particularly 100+Gbps – are spurring capacity upgrades and intensifying competition among fiber-based providers.”

Mid-2022 U.S. Ethernet Market Analysis

• Lumen continues to hold the top rank on the Mid-2022 U.S. Ethernet LEADERBOARD based on port share.
• Our latest Ethernet research shows that port shares are tightening between several of the market leading providers.
• Dedicated Internet/Cloud Access (DIA) was the fastest growing Ethernet service for the first half of 2022 and is on pace to be the largest Ethernet service overall by year-end based on billable U.S. customer installations. Primary Ethernet DIA applications are connectivity for Cloud services and Managed SD-WANs.
• Market demand is rising for Ethernet services ranging up to 100+ Gbps. Customers requiring higher bandwidth connectivity are also evaluating alternatives to Ethernet, including Wavelength and Dark Fiber services.
• Ethernet service providers continue to grapple with supply chain challenges, including lengthy lead times and shortages of the supplies necessary for customer deployments and backbone network operations.
• Lumen and Verizon are the only LEADERBOARD companies with MEF 3.0 Carrier Ethernet (CE) certification.

https://www.verticalsystems.com

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Lumen gains FCC approval for sale of ILEC assets to Brightspeed

The FCC approved Lumen's sale of certain incumbent local exchange carrier (ILEC) assets in 20 states to Brightspeed. The deal has now received all final regulatory clearances needed to close.

Brightspeed plans to make significant investments to build an expanded fiber optics network throughout the 20-state footprint. These plans include providing fiber facilities that are expected to reach up to three million homes and businesses over the next five years, including in many rural and suburban locations where fiber and advanced technology have not yet been deployed.Lumen will retain its ILEC operations in 16 states, where it will continue to invest in bringing fiber broadband to more communities. Lumen will also retain its national fiber routes and associated networks in all of these states, as well as its international operations. 

"This transaction will benefit all of these customers, both in Lumen's remaining 16-state footprint and in the 20 states moving to Brightspeed," said Melissa Mann, Lumen vice president of public policy and government affairs.

"The FCC's approval paves the way for Brightspeed to help close the digital divide in communities across the country that are most in need of high-quality broadband," said Tom Dailey, Brightspeed vice president of public policy and government affairs. "This is a significant step in our journey to begin serving customers as Brightspeed. We appreciate the efforts of all the regulators and our Lumen counterparts who worked diligently with us over this past year to achieve this milestone. We look forward to building our fiber network and participating in programs that support affordability for our new customers."

Brightspeed outlines initial FTTP builds

Thursday, July 07, 2022  Brightspeed  

Brightspeed has outlined plans to rollout fiber-to-the-premise (FTTP) in a number of locations across its 20-state footprint. Brightspeed will initially be comprised of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies, which are the subject of a pending acquisition by Apollo-managed funds. The company recently announced that it had secured all necessary state-required regulatory approvals in...

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Cirion spins out of Latin American operations from Lumen

Tuesday, August 02, 2022  Cirion, Lumen  

Cirion, previously the Latin American operations of Lumen Technologies, officially launched as an independent company with approximately 86,000 kms of fiber, an extensive subsea cable network, and data centers in major economic centers across Central and South America.Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, acquired the Cirion assets for US$2.7 billion. Lumen acquired the Latin American...

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Video: Cirion's Principal Network Architect on Service Automation

Tuesday, August 02, 2022  Cirion, MEF, Video  

 https://youtu.be/LfD2XW2OJ5MCirion, the new spin-out international carrier that was previously the Latin American operations of Lumen Technologies, is engaged with MEF and other global operators, to automate its service activation. Jorge Brites, Principal Network Architect at Cirion, discusses service automation and MEF LSO AP...

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Lumen thwarts 1.06 Tbps DDoS attack

Lumen Technologies mitigated  a 1.06 Tbps Distributed Denial of Service (DDoS)attack that was part of a larger campaign targeting a single victim. 

The incident was one of the largest DDoS attacks experienced by Lumen to date.

Size was not the only notable element of the failed attack; it was also part of a larger campaign in which the threat actor attempted to leverage multiple techniques. These techniques are called out in the report as emerging trends in the second quarter.

Read the full Q2 2022 DDoS report: https://tinyurl.com/Q2DDoSReport

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Lumen offers 8 Gbps residential service over XGS-PON

Lumen Technologies is now offering symmetrical 8 Gbps broadband over its Quantum Fiber residential and small business service. Lumen is using XGS-PON technology.

The 8 Gbps tier is available to select residents and small businesses in cities near Denver, Minneapolis and Seattle, with more cities to come.  

"Technology is evolving and so is Lumen as we tap into the power of our fiber network to give communities more bandwidth to excel at work, play and online life," said Andrew Dugan, chief technology officer at Lumen. "Lumen is strengthening its portfolio and increasing gigabit speeds to fuel consumer and small business broadband connections – and it's just the beginning. We're investing in technology and internet speeds that will continue to push families and businesses into the future."

"This is a game-changer for internet users who want to broaden their horizons with multi-gigabit connections," said Maxine Moreau, president of Lumen Mass Markets. "Quantum Fiber service delivers reliably fast internet for the increasing number of connected devices, virtual work environments, next-level gaming and the ability to upload extremely large files in a matter of seconds. We're so pleased to bring this industry-leading technology to our Quantum Fiber communities to help them thrive in a digital world."

http://www.Q.com

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Cirion spins out of Latin American operations from Lumen

Cirion, previously the Latin American operations of Lumen Technologies, officially launched as an independent company with approximately 86,000 kms of fiber, an extensive subsea cable network, and data centers in major economic centers across Central and South America.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, acquired the Cirion assets for US$2.7 billion. 

Lumen acquired the Latin American business in 2011 when it acquired the business of Global Crossing.

Cirion and Lumen plan to maintain a strategic partnership covering reciprocal reselling and network agreements that leverage each other’s extensive fiber footprints, data centers, and other network assets. 

All of Lumen’s LATAM employees and employees in the United States who are part of the LATAM organization, including its current leadership team, transferred to Cirion as part of the transaction.

“We believe technology is key to our digital future and know what it takes to drive industry change. We are confident that we have the right people, partners, and resources to bring fast, reliable, and exceptional services to our customers,” said Facundo Castro, CEO of Cirion. “We are very enthusiastic about the opportunities that lay ahead and look forward to positioning ourselves as the technological partner of choice for Latin America’s most relevant industries.”

“Closing this transaction marks the beginning of an exciting new chapter for Cirion as the company continues to expand its fiber and data center network across its already strong footprint in Latin America,” said Stonepeak Managing Director and Co-Head of Communications Andrew Thomas. “We are excited to partner with Cirion’s team and apply our experience as active investors in global digital infrastructure to drive sustainable long-term growth.”

"This divestiture is an important step in achieving Lumen's strategic goals as we sharpen our focus on key strategic assets while also providing our LATAM employees and customers an opportunity for continued growth," said Jeff Storey, Lumen President and CEO. "This transaction also positions our Lumen Platform for long term growth, allowing Lumen to invest in a strategic mix of assets and alliances that allows us to deliver what our customers want anywhere in the world."

https://ciriontechnologies.com

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Lumen expands its edge network in Europe

Lumen Technologies is expanding its Edge Computing Solutions into Europe, providing the low latency platform businesses need to extend their high-bandwidth, data-intensive applications out to the cloud edge.

Lumen Edge Computing Solutions bring together the company's global fiber network, on-demand networking, integrated security, and managed services, with edge facilities and compute and storage services. The company says it can meet approximately 70% of enterprise demand within 5 milliseconds of latency in the UK, France, Germany, Belgium, and the Netherlands. Additional locations are planned by end of year. As part of the Edge Computing Solutions deployment in Europe, Lumen enabled an additional 100G MPLS and IP network connectivity, as well as increased power and cooling at key edge data center locations.

Customers can procure Lumen Edge Computing Solutions online, and within an hour gain access to high-powered computing infrastructure on the Lumen platform.

Lumen's edge infrastructure and services include:

• Lumen Edge Bare Metal offers dedicated, pay-as-you-go server hardware hosted in distributed locations and connected to the Lumen global fiber network. Edge Bare Metal delivers enhanced security and connectivity with dedicated, single tenancy servers designed to isolate and protect data and deliver high-performance.
• Lumen Network Storage enables customers to take advantage of secure, scalable, and fast storage where and when they need it. The service allows enterprises and public sector organizations to ingest and update data at the edge using whatever file storage protocol meets their needs.
• Lumen Edge Private Cloud provides pre-built infrastructure for high performance private cloud computing connected to the Lumen global fiber network. Lumen Edge Private Cloud is fully managed by Lumen and helps businesses go-to-market quickly with the capacity needed for interaction-intensive applications.
• Lumen Edge Gateway is a scalable Multi-access Edge Compute (MEC) platform for the premises. The service offers a compute platform for the delivery of virtualized wide area networking (WAN), security, and IT applications from multiple vendors on the premises edge.

"Edge computing is a game-changer. It will drive the next wave of business innovation and growth across virtually all industries," said Annette Murphy, regional president, EMEA and APAC, Lumen Technologies. "Customers in Europe can now tap into the power of the Lumen platform, underpinned by Lumen's extensive fiber footprint, to deploy data-heavy applications and workloads that demand ultra-low latency at the cloud edge. This delivers peak performance and reliability, as well as more capability to drive amazing digital experiences. Customers can focus efforts on developing applications and bringing them to market, rather than on time-consuming infrastructure deployment."

https://news.lumen.com/2022-07-12-Lumen-expands-Edge-Computing-Solutions-into-Europe,1

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Lumen launches 30 gigabit Ethernet in 40 markets

Lumen Technologies will begin offering Ethernet speeds at up to 30 Gbps in early May for its Lumen Dedicated Internet Access (DIA), Lumen Cloud Connect and IP VPN services in nine cities across the U.S., later expanding to more than 40 cities by year end. T

"Internet of Things, augmented reality, voice and video apps – our customers want and need faster, more accessible bandwidth to support these technologies," said Miriana Martinova, Lumen VP, core network solutions. "We've committed to investing in a 100-gigabit metro network across the country. This focus will equip our next-generation architecture with faster Ethernet speeds. Lumen's network investments will enable our Lumen Platform to deliver the applications and data businesses need."

Lumen's Ethernet upgrades meet Metro Ethernet Forum's (MEF) 3.0 standards which helps deliver enhanced performance management and end-to-end service visibility both on- and off-net.

New markets gaining access to Ethernet speeds up to 30 gigabits across Lumen's metro architecture include Columbus, Ohio; Houston, Texas; Kansas City, Mo.; Nashville, Tenn.; Orlando, Fla.; Philadelphia, Pa.; Phoenix, Ariz.; Salt Lake City, Utah and Seattle, Wash.

Markets recently enabled with these speeds include Atlanta, Ga.; Chicago, Ill.; Dallas, Texas; Denver, Colo.; Ft Lauderdale, Fla.; Los Angeles, Calif.; Newark, N.J.; Sunnyvale, Calif. and Washington, D.C.

https://www.lumen.com/en-us/networking/ethernet.html

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Lumen wins $1.2 billion network contract with USDA

The U.S. Department of Agriculture (USDA) has awarded Lumen Technologies a task order worth more than $1.2 billion to deliver a fully integrated wide area data transport service with secure remote access, contact center and cloud connectivity solutions to more than 9,500 USDA locations across the country and abroad. 

"One of America's largest cabinet agencies chose Lumen to securely modernize its network and IT services. We're excited to help the USDA benefit from today's digital technologies that are transforming farming into precision agriculture," said Zain Ahmed, senior vice president, Lumen public sector. "Lumen is bringing modern technology solutions that will make it easier for the USDA to accomplish its mission of promoting the production of nutritious food that nourishes our people, providing economic opportunity to rural Americans, and preserving our nation's natural resources through smart forest and watershed conservation."

 

The 11-year task order, which has an initial term through September 30, 2022, with 10 one-year options, was awarded to Lumen under the General Services Administration's 15-year, $50 billion Enterprise Infrastructure Solutions (EIS) program.

Lumen will provide the USDA with managed network, managed security and voice solutions that support speeds up to 100 Gbps including:

• SD-WAN;
• managed trusted internet protocol services (MTIPS);
• zero-trust networking solutions;
• edge computing and remote access solutions;
• virtual private network services;
• cloud connectivity;
• unified communications and collaboration solutions;
• contact center solutions;
• voice over internet protocol (VoIP), wireless and satellite services;
• Ethernet transport;
• optical wavelength solutions;
• related equipment and engineering services.

https://news.lumen.com/2022-01-20-U-S-Department-of-Agriculture-awards-Lumen-1-2-billion-network-services-contract

Lumen enters edge partnership with Microsoft Azure

Thursday, July 08, 2021  Lumen  

 Lumen Technologies announced a strategic relationship with Microsoft Azure focused on the next generation of enterprise application delivery at the network edge. The companies cited several go-to-market efforts to support mutual customers worldwide:A certified Azure deployment which will be able to run in Lumen Edge Computing nodes worldwide, unlocking more low latency and high bandwidth use cases for customers of Azure service platform.Communication...

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Lumen to sell ILEC operations in 20 states for $7.5 billion

Wednesday, August 04, 2021  Lumen  

Lumen Technologies (formerly CenturyLink) agreed to sell its ILEC (incumbent local exchange carrier) business, including its consumer, small business, wholesale and mostly copper-served enterprise customers and assets, in 20 states to funds managed by affiliates of Apollo Global Management for $7.5 billion, including debt assumption of approximately $1.4 billion. Lumen will retain its ILEC assets in 16 states, as well as its national fiber routes...

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CenturyLink is now Lumen

Monday, September 14, 2020  CenturyLink, Lumen  

CenturyLink changed its name to Lumen Technologies.The company's mission statement is "to help lead enterprises through the challenges and opportunities of the 4th Industrial Revolution – a time when smart, connective devices are everywhere.""Our people are dedicated to furthering human progress through technology. Lumen is all about enabling the amazing potential of our customers, by utilizing our technology platform, our people, and our relationships...

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Lumen launches Edge Private Cloud

Thursday, August 19, 2021  Lumen  

Lumen Technologies introduced a fully-managed Lumen Edge Private Cloud service that provides pre-built infrastructure for high-performance private computing connected to a global fiber network. Lumen Edge Private Cloud is a completely managed Infrastructure-as-a-Service that brings together a private cloud platform with the Lumen global fiber network, edge facilities, security, and managed services to help bridge clouds, IT infrastructure, and...

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Lumen expands UC sales with Cisco

Lumen Technologies and Cisco expanded their partnership to include a new offering: Lumen Solutions for Cisco Unified Communications Manager Cloud (UCMC). This new product pairs Cisco's most advanced, cloud-based collaboration services with Lumen's fiber network. The product especially targets businesses that have already invested in Cisco Webex, or those that are considering it.

"Because of the pandemic, enterprises all around the world have realized that the future of work includes remote and hybrid environments, so they are investing heavily in cloud solutions that integrate calling, conferencing, file sharing, and software applications," said Scott Velting, Lumen vice president of product management, voice and collaboration solutions. "Our expanded partnership with Cisco will enable current and future users of Cisco Webex to deploy flexible, agile, and efficient collaboration technologies without large capital investments, ongoing maintenance, or high IT expenses for staffing and training."

https://news.lumen.com/

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Lumen launches Edge Private Cloud

Lumen Technologies introduced a fully-managed Lumen Edge Private Cloud service that provides pre-built infrastructure for high-performance private computing connected to a global fiber network. 

Lumen Edge Private Cloud is a completely managed Infrastructure-as-a-Service that brings together a private cloud platform with the Lumen global fiber network, edge facilities, security, and managed services to help bridge clouds, IT infrastructure, and storage that allow applications to run at peak performance.  

"Lumen has decades of experience helping our customers implement private cloud solutions for critical workloads, and now we are extending our private cloud capabilities onto our low latency edge platform," said Chris McReynolds, vice president of cloud edge product management for Lumen. "We can help our customers enhance experiences, enhance application performance, and improve security and control — with speed and at scale by empowering them to deploy workloads closer to digital interactions on pre-built hardware and managed infrastructure. With Lumen Edge Private Cloud our customers can have a customized private cloud environment running within days, with Lumen assisting with design, implementation, managed services, and security consulting."

https://www.lumen.com/edge

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Lumen to sell ILEC operations in 20 states for $7.5 billion

Lumen Technologies (formerly CenturyLink) agreed to sell its ILEC (incumbent local exchange carrier) business, including its consumer, small business, wholesale and mostly copper-served enterprise customers and assets, in 20 states to funds managed by affiliates of Apollo Global Management for $7.5 billion, including debt assumption of approximately $1.4 billion. 

Lumen will retain its ILEC assets in 16 states, as well as its national fiber routes and CLEC (competitive local exchange carrier) networks.

Assets in the 20 states being acquired include:

• Local fiber and copper network
• Broadband and voice for consumer, enterprise and wholesale customers
• Fiber and copper connectivity to enabled buildings
• Connectivity to tower sites
• Central offices

"This transaction is an important step in our continued efforts to transform Lumen and drive future growth for our company," said Jeff Storey, Lumen president and CEO. "We are pleased with the attractive valuation we received for these assets, which highlights the overall value of Lumen's extensive asset portfolio. Apollo Funds will receive a great business with a strong customer base, dedicated employees, and a platform for future growth."

"The team at Lumen has built a great business and we see an incredible opportunity to provide leading edge, fiber-to-the-home broadband technology to millions of its business and residential customers," said Aaron Sobel, Private Equity Partner at Apollo. "Our investment will help accelerate the upgrade to fiber optic technologies, and we are excited to have such a high-caliber management team ready to bring faster and more reliable internet service to many rural markets traditionally underserved by broadband providers."

https://news.lumen.com/

CenturyLink is now Lumen

Monday, September 14, 2020  CenturyLink, Lumen  

CenturyLink changed its name to Lumen Technologies.The company's mission statement is "to help lead enterprises through the challenges and opportunities of the 4th Industrial Revolution – a time when smart, connective devices are everywhere.""Our people are dedicated to furthering human progress through technology. Lumen is all about enabling the amazing potential of our customers, by utilizing our technology platform, our people, and our relationships...

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• On July 25, 2021, Lumen reached a definitive agreement to sell its Latin American business to Stonepeak for $2.7 billion
• In 2017, CenturyLink acquired Level 3 Communications in a deal valued at over  $34 billion.  Previously, CenturyLink has acquired Qwest Communications, Savvis and Embarq (formerly Sprint's Local Telecommunications Division).
• In 2014, Level 3 acquired tw telecom in a $5.7 billion deal that combined its global fiber network and international data centers with tw telecom's extensive metro footprint in major U.S. Time Warner Communications was founded in 1993 as a joint venture between US West and Time Warner Communications. The company completed an IPO in 1999. It acquired Xspedius in 2006. 
• Level 3's prior acquisitions include WilTel (2005), Progress Telecom (2006), ICG(2006), Telcove (2006), Looking Glass Networks (2006), Broadwing (2007), SAVVIS' content delivery network (2007), Servecast (2007), and Global Crossing (2011).

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Lumen's Q2 sales dip to $4.9 billion

 Lumen Technologies reported total Q2 revenue $4.924 billion, compared to $5.192 billion for the second quarter 2020. Reported net income was $506 million for the second quarter 2021, compared to $377 million for the second quarter 2020.

"Lumen delivered solid Adjusted EBITDA and Free Cash Flow in the second quarter, and we are executing on our strategy to optimize the Lumen asset portfolio, positioning the company for future growth," said Jeff Storey, president and CEO of Lumen. "We are well positioned strategically with our significant and accelerating fiber investments across both Business and Mass Markets."

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