 Lumen Technologies, formerly CenturyLink, has finalized the sale of its incumbent local exchange carrier (ILEC) assets in 20 states to Brightspeed, a brand-new company that launched its operations Monday.
The offload will help Lumen, which has struggled in recent years against financial headwinds, to focus its investments on growing its enterprise business through strategic IT services and accelerating adoption of the Lumen platform, the company said in a statement. The service provider in 2021 unveiled plans to sell its ILEC business, which includes its consumer, small business, wholesale and mostly copper-served enterprise customers and assets in 20 states, to investment management firm Apollo Global Management in a deal valued at $7.5 billion. Continue reading. |
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