Apollo unveils Brightspeed brand for acquired Lumen assets

18 Nov 2021

Funds managed by Apollo Global Management have unveiled Brightspeed as the brand which will be used for the fixed line assets that it has agreed to acquire from Lumen Technologies. The previously announced acquisition is set to close in the second half of 2022 and the new company will be headquartered in Charlotte, North Carolina.

Going forward, the telco says it will reach more than three million consumer and business locations over the next five years, via an infrastructure investment of USD2 billion. This will see fibre-optic networks deployed in the Midwest, Southeast and certain parts of Pennsylvania and New Jersey.

As previously reported by CommsUpdate, in August 2021 Lumen entered into a definitive agreement to sell its incumbent local exchange carrier (ILEC) business in 20 states to funds managed by affiliates of Apollo for USD7.5 billion, including the assumption of approximately USD1.4 billion of debt.

United States, Apollo Global Management, Brightspeed, Lumen Technologies (formerly CenturyLink)