Colt Technology Services (Colt) has successfully completed the acquisition of Lumen’s Europe, Middle East, and Africa (EMEA) business for the previously announced sum of $1.8 billion cash. The deal conclusion marks the last phase of this agreement that was initially announced in November last year.
The deal would represent a turning moment for Colt Technology Services. Colt now becomes a significant worldwide player and one of the biggest business-to-business communication providers in the world as a result. With the assistance of “a capable and varied” executive leadership group, Keri Gilder will continue to serve as Colt's CEO.
Colt and Lumen Technologies will engage into a cooperation agreement as part of the transaction, allowing companies in North America to take use of Colt's digital infrastructure and services both domestically and internationally.
For the requirements of Colt's clients in North America, Lumen will continue to be an important strategic partner. One of the biggest and deepest networks in the world is still the Lumen network. The activities in EMEA will continue to be supported by a small group of Lumen workers.
"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 Keri Gilder, CEO of Colt Technology Services. “As we grow into new regions in Eastern Europe, the United Arab Emirates, and portions of Africa, it not only offers us tremendous new talent but also broadens our partner ecosystem and technology portfolio. It also considerably increases our digital infrastructure.”
She goes on, saying, "Our sector has to provide a digital blueprint for a hyperconnected global society in a responsible, fair, and equitable manner as it prepares for a revolutionary shift. Colt is now a leading voice in the business, having pioneered sustainable networks, thanks to the purchase. It offers us the chance to take the lead in the sector in enacting significant, real change that will safeguard both our planet and its inhabitants."
2,700 New Colt Clients
“As we grow into new regions in Eastern Europe, the United Arab Emirates, and portions of Africa, it not only offers us tremendous new talent but also broadens our partner ecosystem and technology portfolio,” said Keri Gilder, CEO of Colt Technology Services."We’re excited about what this transaction does for our customers and for Lumen," said Kate Johnson, CEO at Lumen. "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."
According to Omdia's Camille Mendler, Colt has always been unwavering in its commitment to provide business clients with outstanding experiences. "At this crucial juncture, that purpose has expanded to a global scale. Globally, businesses need unwavering allies to traverse significant shifts in digital consumption, such as network-as-a-service, zero-trust security, and hybrid cloud computing."
Clients will get access to an expanded range of new services, including as managed hosting, professional services, next-generation SASE solutions, new security technologies, and on-demand and SD WAN, in addition to Colt's current suite of technologies, as well as:
- 1,300 new workers in 16 countries who are customer-focused
- 1,630,031 kilometers of fiber span 34 EMEA nations, linking 125 European cities
- 11 000 km of urban network spread across 23 nations including the United Arab Emirates
- Twelve cable landing points across six nations
- Ten subsea cable systems: four in Europe and six across the Atlantic
Colt gains 2,700 new clients as a result of the acquisition, including public sector clients, blue chip companies, and leading businesses. Colt also uses the PoPs (Points of Presence) in Dubai, Estonia, Greece, Iceland, Israel, Kenya, Serbia, Slovenia, South Africa, and Turkey to further expand its service offerings.
The deal concludes as companies prepare to expand their digital infrastructure outside of their current markets, according to Colt's most recent brand study. Colt conducted interviews with 1,100 senior IT decision makers in the US, Europe, and APAC, and discovered that 44% of them intended to expand their digital infrastructure into Europe and 40% into APAC. Nearly one in four (24%) want to expand their network to Africa, more than one in three (35%) to the Americas, and two ninths to the Middle East.
According to Keri Gilder, "Technology companies with scale, adaptability, and a strong sense of purpose will thrive in the future. We've put a lot of effort into developing these skills. We are prepared to write the next chapter in our tale because we have remained true to our values and promises and have centered our company on the success of our clients.”
