Colt acquires Lumen EMEA for $1.8bn
Thu 2 Nov 2023
Colt Technology Services has completed its acquisition of Lumen EMEA for £1.47 billion ($1.8 billion).
The closure of the transaction is the final stage of Colt’s exclusive agreement with Lumen Technologies to purchase Lumen’s Europe, Middle East and Africa (EMEA) business.
Keri Gilder, who will remain as Colt’s CEO, said: “Closing this acquisition brings us to a momentous point in our growth journey. It significantly expands our digital infrastructure as we enter new markets across Eastern Europe, the UAE and parts of Africa.”
The transaction marks a pivotal point for Colt. It is expected to bring renewed optimism to the European telecoms industry, providing greater choice and expansive global capabilities to enterprises investing in powerful, sustainable digital infrastructure as the driving force behind their organisations.
It elevates Colt to one of the world’s largest business-to-business-only telecoms companies.
“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,” added Gilder.
As part of the acquisition, Colt and Lumen Technologies will enter into a partnership agreement in North America.
Camille Mendler, Chief Analyst for Enterprise Services at Omdia, said: “Enterprises worldwide need steadfast partners to navigate profound changes in digital consumption including network-as-a-service, zero-trust security and hybrid cloud computing.”
The acquisition will see Colt expand the reach of its services via Points of Presence in Dubai, Estonia, Greece, Iceland, Israel, Kenya, Serbia, Slovenia, South Africa and Turkey.
The acquisition closes as Colt’s latest research highlights businesses’ plans to extend their digital infrastructure outside their existing markets.
Questioning 1,100 senior IT decision makers across APAC, Europe and the US, Colt found 44% planned to extend their digital infrastructure to Europe and 40% to APAC.
More than one in three (35%) plan to extend it to the Americas; 29% to the Middle East, and almost one in four (24%) plan to expand their network to Africa.
“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.
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