Digital infrastructure company Colt Technology Services has completed the acquisition of Lumen EMEA for $1.8 billion.
The closure of the transaction is the final stage in Colt’s exclusive agreement with Lumen Technologies Inc. to purchase Lumen’s Europe, Middle East and Africa (EMEA) business.
The deal elevates London-headquartered Colt to one of the world’s largest business-to-business-only telecoms companies. Keri Gilder will remain as Colt’s CEO.
As part of the acquisition, Colt and Lumen Technologies, Inc. will enter into a partnership agreement which sees businesses in North America able to access Colt’s digital infrastructure and services within and outside of North America.
“Closing this acquisition brings us to a momentous point in our growth journey and marks our deep commitment to our customers, helping them scale and grow,” said Gilder.
“It 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.
“Our industry is on the cusp of groundbreaking transformation; it must deliver a digital roadmap for a hyperconnected global society in a responsible, fair and equitable way. As a pioneer for sustainable networks, the acquisition makes Colt one of the most powerful voices in the industry.
“It gives us the opportunity to lead the industry in driving purposeful, meaningful change to protect our people and our planet.”
Colt has laid 1.6 million kilometres of fibre connecting 125 European cities in 34 EMEA countries, as well as 11,000km of metropolitan network in 23 countries and the UAE, and 10 subsea cable systems – six trans-Atlantic and four within Europe; and built 12 cable landing stations in six countries.
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.
Gilder stated: “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.
“By staying true to our culture and commitments and building our business around our customers’ success, we’re ready to write the next chapter in our story.”