Colt, a service provider for numerous retail brokers, financial firms, and crypto exchanges, announced today (Thursday) that it has acquired Lumen EMEA for $1.8 billion, concluding a negotiation process that began precisely one year ago.

Colt's Strategic Acquisition of Lumen EMEA for $1.8 Billion

Colt Technology Services is a company that provides telecommunications infrastructure to various firms, including exchanges and other representatives of the financial sector. Currently operating in 38 countries with 80 offices worldwide, this latest acquisition will allow them to expand their operations in Europe, the Middle East, and Africa (EMEA).

Colt and Lumen Technologies, Inc. forged a collaborative partnership following the acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term. This alliance is set to provide businesses in North America with access to Colt's digital infrastructure and services, both within the region and globally. Commenting on this development, Keri Gilder, the CEO of Colt Technology Services, remarked on the significance of this partnership and its potential impact on the industry.

"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," Gilder added. "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."

We’ve completed the purchase of Lumen EMEA, bringing Colt greater scale, amazing people and partners, new regions, and technologies. Read more: https://t.co/TjiVG8ySG9

— Colt Technology (@Colt_Technology) November 1, 2023

Enhanced Connectivity and Services Post-Acquisition

Customers are set to benefit significantly from Colt's acquisition of Lumen EMEA, gaining access to an enhanced suite of technologies and services. The purchase also brings a substantial influx of resources and connectivity options. A dedicated team of 1,300 customer-centric employees has been integrated across 16 different countries, bolstering Colt's workforce and enhancing its customer service capabilities. The company's network has significantly expanded, with 1,630,031 kilometers of fiber now connecting 125 European cities across 34 EMEA countries.

With the integration of 2,700 new customers, including blue-chip corporations, leading enterprises, and public sector customers, Colt has dramatically broadened its service footprint. The establishment of Strategic Points of Presence in strategic locations has enhanced accessibility within Colt's network.

Firms Plan to Extend Digital Infrastructure

The completion of the acquisition coincides with the release of Colt's latest brand research, which sheds light on the growing trend of businesses looking to expand their digital infrastructure beyond their current markets. The research, which surveyed 1,100 senior IT decision-makers across various regions including APAC, Europe, and the US, revealed that many businesses plan to broaden their digital reach.

Specifically, 44% of the respondents are looking to extend their digital infrastructure into Europe, while 40% have their sights set on APAC. Additionally, 35% are considering expanding into the Americas, 29% are exploring opportunities in the Middle East, and nearly 24% aim to extend their network into 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. 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," Gilder concluded.