Level 3 to buy Global Crossing for $3bn
Summary: With its $3bn stock-swap acquisition of Global Crossing, Level 3 Communications will operate networks in 50 countries
Level 3 Communications said on Monday it will buy Global Crossing in a stock swap valued at $3bn.
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With the combination, Level 3 will operate networks in 50 countries with connections to 70 countries overall. The combined companies have more than $6bn (£3.66bn) in annual revenue with adjusted Ebita (earnings before interest, taxes, depreciation and amortisation) of $1.57bn after cost savings.
According to the companies, the new Level 3 will be able to cater to the local, national and global markets. It can also better target the enterprise.
For more on this ZDNet UK-selected story, see Level 3 to acquire Global Crossing for $3 billion on ZDNet.com.
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