CenturyLink Closes $34B Level 3 Acquisition

Wednesday Nov 1st 2017 by Sean Michael Kerner
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A year after the massive acquisition was first announced, the final hurdle has been passed.

There is a new mega-service network provider in the world today, with Level 3 now officially becoming part of CenturyLink.

The $34 billion deal was first announced a year ago on Oct. 31, 2016, and has been jumping over legal and regulatory hurdles ever since.

The combined company now has over 450,00 route miles of fiber deployed across 350 cities in 60 different countries around the world.

As part of the deal, Jeff Storey, the former CEO of Level 3 is now the president and chief operating officer (COO) of the merged company.

"Our goal is to be the world's best networking provider, and we have the ability to achieve this as one company," Storey stated. "Our scale and experience will enable us to deliver on behalf of our customers, employees and our shareholders."

CenturyLink's CEO is also very optimistic about the combined prospects of the newly expanded company.

"CenturyLink is now poised to offer an expanded, robust portfolio of communications solutions focused on our customers' networking and IT services needs," Glen F. Post III, CenturyLink's CEO, stated. "Our customers, from individual consumers to global enterprises, will benefit from our expanded, innovative network solutions, our complementary managed services and our highly talented workforce."

CenturyLink has grown substantially in recent years thanks in no small part to acquisitions. In 2010, CenturyLink acquired Qwest in a $22.4 billion deal. Level 3 has also been active in the acquisition space, acquiring Global Crossing in 2011 for $1.9 billion.

Sean Michael Kerner is a senior editor at EnterpriseNetworkingPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.

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