Divestiture • Communications

Level 3 Communications Acquires WilTel Communications Group

On October 31, 2005, Level 3 Communications acquired communications company WilTel Communications Group from Jefferies Financial Group for 370M USD

Acquisition Context
  • This is Level 3 Communications’ 6th transaction in the Communications sector.
  • This is Level 3 Communications’ 5th largest (disclosed) transaction.
  • This is Level 3 Communications’ 7th transaction in the United States.
  • This is Level 3 Communications’ 1st transaction in Oklahoma.

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M&A Deal Summary

Date October 31, 2005
Target WilTel Communications Group
Sector Communications
Buyer(s) Level 3 Communications
Sellers(s) Jefferies Financial Group
Deal Type Divestiture
Deal Value 370M USD

Target Company

WilTel Communications Group

Tulsa, Oklahoma, United States
WilTel Communications Group, Inc. is a delivers a comprehensive suite of voice, data, video and IP services over a next-generation fiber-optic network.
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Buyer Overview 1

Buyer

Level 3 Communications

Broomfield, Colorado, United States

Category Company
Founded 1884
Sector Communications
Employees12,500
Revenue 8.2B USD (2015)
DESCRIPTION
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.


Deal Context for Buyer #
Overall 10 of 21
Sector: Communications 6 of 15
Type: Divestiture 2 of 4
State: Oklahoma 1 of 1
Country: United States 7 of 15
Year: 2005 1 of 1
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Sprint - Wholesale Dial Internet Access Business

Overland Park, Kansas, United States

Sprint's Wholesale Dial Internet Access Business is a provides dial IP services to its enterprise and small-business customers as part of its remote access service product offering.

Buy $34M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-26 Progress Telecom

St. Petersburg, Florida, United States

Progress Telecom LLC is a regional wholesale network services company.

Buy $137M

Seller Profile 1

SELLER

Jefferies Financial Group

New York, New York, United States

Category Company
Founded 1962
Sector Financial Services
Employees7,701
Revenue 10.5B USD (2024)
DESCRIPTION

Jefferies Financial Group is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses, including investment banking and capital markets. Jefferies Financial Group was founded in 1962 and is based in New York, New York.


Deal Context for Seller #
Overall 1 of 6
Sector: Communications 1 of 1
Type: Divestiture 1 of 6
State: Oklahoma 1 of 1
Country: United States 1 of 6
Year: 2005 1 of 1
Size (of disclosed) 2 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Garcadia Auto Services

New York, New York, United States

Garcadia Auto Services is an own and operates 28 dealerships in Texas, Michigan, Iowa and California.

Buy -