Colt said the acquisition elevates it to one of the world’s largest business-to-business-only telecoms companies and an influential global player. The acquisition ensured an additional 2700 customers including those from blue chip corporations, leading enterprises and the public sector.
Colt also said Keri Gilder will remain as CEO, supported by a skilled, diverse executive leadership team.
“Closing this acquisition brings us amazing new talent; extends our technology portfolio and our partner ecosystem; and significantly expands our digital infrastructure as we enter new markets across Eastern Europe, the UAE and parts of Africa,” Gilder said.
As part of the acquisition, Colt and Lumen will enter into a partnership agreement which sees businesses in North America benefit from access to Colt’s award-winning digital infrastructure and services within and outside of the region.
Furthermore Colt’s customers will benefits from increased connectivity options, as outlined by Colt below:
Lumen noted that the $1.8 billion price tag represented an attractive multiple (~11x) for Lumen's EMEA business and delivers significant value to Lumen's stakeholders.
"We're excited about what this transaction does for our customers and for Lumen," said Kate Johnson, Lumen’s CEO.
"Our focus on building deep relationships with strategic partners allows us to simplify our business while delivering a seamless networking experience for our multinational customers. Through our strong relationship with Colt, both companies are well positioned for future growth.”
Colt cited research it had conducted by questioning 1,100 senior IT decision makers across APAC, Europe and the US to conclude that 44% planned to extend their digital infrastructure to Europe.
This made Europe the most common region companies were looking to expand their infrastructure to.
“Technology companies that will thrive in the future will be those with scale, adaptability and a strong sense of purpose,” Gilder concluded
