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Lumen Technologies, Inc. (NYSE: LUMN) is a leading global telecommunications and technology company dedicated to transforming the way businesses and individuals interact with the digital world. With a workforce of approximately 38,000 professionals, Lumen is at the forefront of the 4th Industrial Revolution, offering flexible, intelligent, secure, and collaborative solutions for the next generation of business.
Lumen's extensive infrastructure includes 450,000 route miles of fiber, making it one of the largest telecommunication carriers in the United States. The company's strategic shift towards enterprise services was marked by its merger with Level 3 in 2017 and the divestiture of much of its ILEC business in 2022. Today, Lumen generates about 75% of its revenue from enterprise services, providing a full spectrum of communications solutions, including colocation and data center services, data transportation, and end-user phone and Internet services.
On the consumer side, Lumen delivers broadband and phone services across 37 states, serving 4.5 million broadband customers. The company is committed to enhancing the digital experience by leveraging its network strength, which spans metro connectivity, long-haul data transport, edge cloud, security, and managed service capabilities.
Lumen is also a recognized leader in cybersecurity. The latest Lumen Quarterly DDoS & Application Threat Report for Q4 2023 highlights a surge in DDoS attacks targeting the government sector. Lumen's advanced threat intelligence, powered by AI and machine learning, has been pivotal in mitigating these threats. The company's Black Lotus Labs threat intelligence team continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.
Financially, Lumen has shown robust performance. The company reported total revenue of $3.290 billion for Q1 2024, alongside substantial improvements in customer satisfaction and significant broadband net additions. After executing a comprehensive debt restructuring plan, Lumen now enjoys a strengthened liquidity position and a streamlined debt maturity profile.
Recent achievements include securing a $73.6 million contract to transform the U.S. Government Accountability Office's (GAO) network infrastructure and launching Lumen Defender, a cutting-edge AI-driven cybersecurity tool designed to proactively block evolving threats at the network edge.
For more information about Lumen Technologies and their ambitious mission, please visit www.lumen.com.
On October 3, 2022, Lumen Technologies, Inc. (NYSE: LUMN) announced the results of its cash tender offers to purchase various outstanding senior notes. A total of $633.8 million of 6.750% Senior Notes, $905.2 million of 7.500% Senior Notes, and additional notes were validly tendered before the September 30 deadline. The completion of the offers is linked to the divestiture of Lumen's local exchange business, expected to finalize on the same day. The company reserves rights to waive conditions or delay acceptance of tenders.
Lumen Technologies' Black Lotus Labs has identified a new malware named Chaos, which has seen a fourfold increase in size within two months. This malware, developed in Go, targets a range of devices, including Windows, Linux, and consumer routers, enabling its operators to execute DDoS attacks and conduct crypto mining. The malware exploits known vulnerabilities, leveraging Chinese command and control infrastructure. Organizations are urged to enhance their security measures, including implementing DDoS mitigation and SASE services.
Lumen Technologies, Inc. (NYSE: LUMN) has initiated cash tender offers for all outstanding notes, including senior notes due in 2023, 2024, 2025, 2026, 2028, and 2029. The total amount for the offers is approximately $3.5 billion, with various tender considerations listed. The offers are set to expire on September 30, 2022, unless extended. A key condition is the divestiture of certain business units to Connect Holding LLC, anticipated to close on October 3, 2022. Payment for accepted offers is expected on the same date.
Lumen Technologies (LUMN) is expanding its subsea network capacity by investing in the Grace Hopper subsea cable system, connecting New York and Bude, UK. This investment enhances data flow capabilities and supports growing international demand for cloud services. The Grace Hopper system, set to be operational in October, is the sixth on-net subsea route Lumen has established across the Atlantic. The company emphasizes its long-standing partnership with Google and its commitment to providing secure communications infrastructures for businesses globally, leveraging its extensive fiber network.
On September 13, 2022, Lumen Technologies (LUMN) appointed Kate Johnson as the new president and CEO. Chris Stansbury, the CFO, will represent the company at the Goldman Sachs Communacopia + Technology Conference on September 15 at 10:45 a.m. PT. A live webcast of this presentation will be accessible via the Lumen Investor Relations website, enhancing transparency for investors and stakeholders. Lumen continues to focus on delivering advanced technology solutions globally, boasting about 450,000 route fiber miles and serving over 60 countries.
Lumen Technologies (NYSE: LUMN) has appointed Kate Johnson as its new President and CEO, effective November 7, 2022, succeeding Jeff Storey, who will retire after 40 years in the telecommunications industry. Johnson, previously leading Microsoft U.S., is recognized for driving business transformations and growth. The succession plan has been in place for several years, with confidence expressed in Johnson's leadership to enhance Lumen's strategic initiatives and customer experiences. Storey will assist with the transition until December 31, 2022.
Lumen Technologies will present at the Goldman Sachs Communacopia + Technology Conference on September 15, 2022, with CEO Jeff Storey scheduled to speak at 10:45 a.m. PT. A live webcast of the presentation will be available on Lumen's Investor Relations website. Lumen, known for its extensive fiber network, aims to enhance technology to improve business and community experiences across more than 60 countries. Investors can find more details and the webcast link on the Investor Relations site.
Brightspeed has secured over $90 million in grants to expand its gig-speed fiber network to 38,000 locations across 29 counties in North Carolina. The funding is part of the state's GREAT grant initiative aimed at enhancing broadband access in underserved areas. Brightspeed, the top recipient in a competitive process with over 300 applicants, plans to build 800,000 fiber-enabled locations over time, significantly improving internet service and accessibility. The investments are aligned with their mission to bridge the digital divide.
Lumen Technologies will present at the BofA Securities 2022 Media, Communications and Entertainment Conference on September 7, 2022, starting at 11:20 a.m. PT. Chris Stansbury, CFO, will lead the presentation, which can be accessed via a live webcast on Lumen's Investor Relations site. Lumen operates approximately 450,000 route fiber miles and serves customers in over 60 countries, focusing on advancing technology to enhance both work and life. For further details, visit Lumen's website.
Brightspeed has unveiled plans to expand its fiber optic network in Indiana, targeting over 50,000 potential customers by the end of 2023. This initial phase includes 20 counties and a commitment of at least $2 billion to improve broadband access across rural areas, ultimately reaching over 120,000 locations. Brightspeed aims to enhance internet speed and reliability through a next-generation FTTP architecture that offers speeds exceeding 1 Gbps. The company has secured all necessary regulatory approvals and expects to finalize its acquisition by APO in early Q4 2022.
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