Oct, 2003 : Level 3 Seeking Assets of Rival Carriers
📅 - Level 3 Communications (level3.com) said Tuesday it is setting its sights on acquiring financially distressed telecommunications carriers as part of its efforts to boost revenues, according Reuters.
Level 3 CEO James Crowe told investors at a Goldman Sachs conference that there are "lots of opportunities to make acquisitions like the ones we have already made," Reuters reported. According to Crowe, the company has approximately $1 billion in cash and could access additional sources of funding should a potential acquisition exceed its cash current financial resources. Crowe described the profile of companies Level 3 is seeking to acquire. "We want companies that offer largely the same services and are in largely the same geographic area so we can take advantage of some synergies.? Level 3, backed by investor Warren Buffet, acquired substantially all the assets and operations of rival Genuity in February. Level 3 exited the managed hosting portion of the Genuity business in April. The company is based on Bloomfield, Colorado.
Reads: 1685 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/lev100103.cfm
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!
Related news
📅 - Level 3 Acquires DDoS Mitigation Company Black Lotus - Global telecommunications provider Level 3 Communications, Inc. (NYSE: LVLT), announced it acquired privately held Black Lotus, a provider of global Distributed Denial of Service (DDoS) mitigation services. The acquisition of Black Lotus represents another step in Level 3's continued commitment to provide leading security product capabilities. Level 3 noted the increase in frequency, volume and complexity of DDoS attacks in a recent research report, Safeguarding the Internet: Level 3 Botnet Research Report, substantiating the need to invest in the DDoS market.
New DDoS Capabilities
The acquisition of Black Lotus will add additional capabilities to Level 3's existing DDoS service, which lau
📅 - ColoGuys Adds Connection to Internap - Offering dedicated servers, colocation services, and web hosting, private data center operator ColoGuys (cologuys.com👉 Total Reviews: 3 🙌 Average Rating: 4 / 10 👍 Good Reviews: 1 👎 Bad Reviews: 2 👈 Official Responses: 0 -> hostinger.com) has added a new transit connection to Internet connectivity and infrastructure solutions provider Internap (internap.com -> inap.com), giving ColoGuys an added 10 GB of capacity and greater connectivity to North America, Europe and Asia. According to ColoGuys' announcement Monday, Internap's multi-carrier intelligent routing technology, which uses Private Network Access Points to optimize the speed of Internet traffic between data centers, will help ColoGuys and its clients' fully-redundant and reliable world-class data transit requirements. "We are com
📅 - Level 3 Refinances Debt, Repays $123.8m - January 8, 2009 -- Keeping its head above water amidst looming debt that threatens to push it into bankruptcy, optical communications services provider Level 3 Communications (level3.com) has paid back $123.8 million of notes held by investors last week, the last portion of a series of debt repayments launched in November 2008.
All in all, Level 3 repaid $460 million of the $1.14 billion of investor-held debt scheduled to be repaid in 2009 and 2010, easing pressure on Level 3's cash flow, according to Denver Business Journal reports.
Freed from the weight of debt, Level 3's stock prices have been rising, having opened the year at 71 cents per share and climbing t
📅 - Level 3 to Cut 450 Jobs - Joining the influx of layoff announcements that have been permeating the news as of late, Colorado-based telecommunications provider Level 3 (level3.com) has become the latest technology company to announce job cuts in light of the deepening US recession. Level 3 said on Tuesday it will be cutting around eight percent of its workforce, translating to about 450 jobs, by the end of December from "various levels in the company and in multiple locations in North America."The announcement comes less than a week after AT&T, the largest telecom services provider in the US, reported on Thursday plans to lay off 12,000 people, or about four percent of its workforce, and re
📅 - Level 3 CDN Backs Pando Cloud - Pioneering content delivery cloud services provider Pando Networks (pando.com) a has chosen Level 3 Communications' (level3.com) content delivery network to provide caching and downloading services to support the delivery of rich media content for commercial customers. According to the company's Thursday announcement, Level 3's caching and downloading services will enhance Pando's content delivery cloud platform, enabling users to download and stream large media files, including full-screen, high-definition video."Level 3's CDN technology enables us to expand our content delivery cloud service with greater reliability and quality than standalone P2P techno
📅 - Level 3 Communications (level3.com) said Tuesday it is setting its sights on acquiring financially distressed telecommunications carriers as part of its efforts to boost revenues, according Reuters. 
Reads: 1685 | Category: General | Source: TheWHIR : Web Host Industry Reviews