Transaction intends to sharpen Lumen's enterprise focus, accelerate the Quantum Fiber deployment, and drive growth on the Lumen Platform

9/14/2022

Lumen Technologies struck a $7.5 billion deal to sell some of its Incumbent Local Exchange Carrier to investment firm Apollo Global Management.

The transaction will provide Apollo Funds with a robust, scaled local network, as well as the operations and back-office support to meet the accelerating demand for high-bandwidth connectivity and fiber technology.

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

"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."
Jeff Storey, Lumen President and CEO

Lumen will retain 16 States, while Apollo will handle 20 States.

"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."
Aaron Sobel, Private Equity Partner at Apollo

Will this transaction impact you?

Find out

Comments

Copper: Decommissioned

7/28/2022

Comments

Is your business using a landline?
Your phone system may be impacted!

Landlines aren't necessarily going extinct, but phone lines using copper infrastructure are going away.

The Federal Communications Commission (FCC) mandated that all Plain Old Telephone Service lines be replaced with an alternative. The FCC made this order in 2010, giving just ten years for phone companies to adjust their business model and find alternatives for their customers.

Business Purposes for Traditional Landlines

Old Telephone systems
Elevators
Fire alarm systems
Burglar alarm systems
Point of Sale
Red Phones
Voice Over Internet Protocol (VoIP) backup
Fax Machines

Many alternatives to copper have arisen, and we are happy to be your guide, simplifying technology that continues to evolve!

Ask for help

Comments

Stay connected with the latest technology.

Transaction intends to sharpen Lumen's enterprise focus, accelerate the Quantum Fiber deployment, and drive growth on the Lumen Platform

Lumen Technologies struck a $7.5 billion deal to sell some of its Incumbent Local Exchange Carrier to investment firm Apollo Global Management.

Lumen will retain 16 States, while Apollo will handle 20 States.

Will this transaction impact you?

Copper: Decommissioned

Is your business using a landline?
Your phone system may be impacted!

Business Purposes for Traditional Landlines

See if we service your location!

Browse
Articles

​Stay connected with the latest technology.

Transaction intends to sharpen Lumen's enterprise focus, accelerate the Quantum Fiber deployment, and drive growth on the Lumen Platform

Lumen Technologies struck a $7.5 billion deal to sell some of its Incumbent Local Exchange Carrier to investment firm Apollo Global Management.

Lumen will retain ​16 States, while Apollo will handle 20 States.

Will this transaction impact you?

Copper: Decommissioned

Is your business using a landline?Your phone system may be impacted!

Business Purposes for Traditional Landlines

​See if we service your location!

Browse​Articles

Stay connected with the latest technology.

Lumen will retain 16 States, while Apollo will handle 20 States.

Is your business using a landline?
Your phone system may be impacted!

See if we service your location!

Browse
Articles