M&A Deal Summary

Lumen Acquires Level 3 Communications

On October 31, 2016, Lumen acquired communications company Level 3 Communications for 34.0B USD

Acquisition Highlights
  • This is Lumen’s 4th transaction in the Communications sector.
  • This is Lumen’s largest (disclosed) transaction.
  • This is Lumen’s 14th transaction in the United States.
  • This is Lumen’s 1st transaction in Colorado.

M&A Deal Summary
Date 2016-10-31
Target Level 3 Communications
Sector Communications
Buyer(s) Lumen
Deal Type Add-on Acquisition
Deal Value 34.0B USD
Advisor(s) Citigroup Investment Banking (Financial)
Willkie Farr & Gallagher (Legal)

Target

Level 3 Communications

Broomfield, Colorado, United States
website
Level 3 Communications' corporate headquarters in Broomfield, Colorado.
Level 3 Communications' corporate headquarters in Broomfield, Colorado.
Level 3 Communications, Inc. is a provider of local, national and global communications services to enterprise, government and carrier customers. Level 3’s portfolio of managed solutions includes fiber and infrastructure solutions, IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 Communications, Inc. was originally established in 1884 and is headquartered in Broomfield, Colorado.

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Buyer(S) 1

Buyer

Lumen

Monroe, Louisiana, United States

website

Category Company
Founded 1968
Sector Communications
Employees29,000
Revenue 17.5B USD (2022)
DESCRIPTION
CenturyLink office location in downtown St. Paul, Minnesota.
CenturyLink office location in downtown St. Paul, Minnesota.

Lumen is an integrated communications company engaged in providing an array of communications services to residential, business, governmental and wholesale customers. CenturyLink's communications services include local and long-distance, network access, private line (including special access), public access, broadband, data, managed hosting (including cloud hosting), colocation, wireless and video services. In certain local and regional markets, the Company also provides local access and fiber transport services to competitive local exchange carriers (CLECs) and security monitoring. Lumen was established in 1968 and is based in Monroe, Louisiana.

DEAL STATS #
Overall 15 of 17
Sector (Communications) 4 of 4
Type (Add-on Acquisition) 13 of 15
State (Colorado) 1 of 1
Country (United States) 14 of 16
Year (2016) 3 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-14 ElasticBox

San Francisco, California, United States

ElasticBox, Inc. is a provider of cloud based platform for enterprise IT organizations to orchestrate the deployment of applications and create a self-service catalog of applications and infrastructure.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-04 Cyxtera

Coral Gables, Florida, United States

Cyxtera engages in data center colocation and interconnection services. The company operates a footprint of more than 60 data centers around the world, providing services to more than 2,300 leading enterprises and U.S. federal government agencies. Cyxtera was founded in 2017 and is based in Coral Gables, Florida.

Sell $2.2B
Mergr

Product

Company

Legal