Colt Technology Services has completed the acquisition of Lumen EMEA for US$1.8 billion, which is the final stage in Colt’s exclusive agreement with Lumen Technologies to buy Lumen’s Europe, Middle East and Africa business.
Colt said the transaction brings renewed optimism to the European telecoms industry, and makes the company one of the world’s largest business-to-business-only telecoms companies.
As part of the acquisition, Colt and Lumen Technologies will enter into a partnership agreement which sees businesses in North America benefit from access to Colt’s digital infrastructure and services within and outside of North America.
“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,” said Colt CEO Keri Gilder.
Further, the acquisition – which brings Colt 2,700 customers including blue chip corporations, leading enterprises and public sector customers — sees Colt expand the reach of its services via PoPs (Points of Presence) in Dubai, Estonia, Greece, Iceland, Israel, Kenya, Serbia, Slovenia, South Africa and Turkey.
“Technology companies that will thrive in the future will be those with scale, adaptability and a strong sense of purpose. We’ve worked hard to build these capabilities,” said Gilder.
