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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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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.
Lumen Technologies has launched the Lumen Edge Private Cloud, a fully managed private computing infrastructure integrated with a global fiber network. This offering is designed to help businesses quickly deploy workloads for interaction-intensive applications while enhancing performance, security, and control. According to 451 Research, edge private clouds provide significant advantages such as cost savings and low latency. Lumen aims to bridge IT infrastructure with its extensive services, enabling businesses to navigate the 4th Industrial Revolution effectively.
Lumen Technologies (NYSE: LUMN) released its Q2 2021 DDoS report, noting a 14% increase in mitigated attacks compared to Q1. Key findings revealed a rise in ransom DDoS attacks, emphasizing the importance of robust DDoS mitigation services for digital businesses. The report highlighted a large attack bandwidth of 419 Gbps and a significant increase in unique command-and-control servers (C2s) across various regions. The security team at Lumen utilized intelligence from Black Lotus Labs to compile these findings.
Black Lotus Labs, the threat intelligence arm of Lumen Technologies (NYSE: LUMN), has identified modifications to the ReverseRat remote access trojan, now dubbed ReverseRat 2.0. This enhanced version gains access to webcams and USB-connected devices, evading antivirus detection. It primarily targets victims in Afghanistan, India, Iran, and Jordan, with malicious documents masquerading as United Nations meeting agendas. Black Lotus Labs has null-routed the threat infrastructure and advises organizations to stay vigilant against such attacks.
Lumen Technologies will present at the Cowen 7th Annual Communications Infrastructure Summit on August 10, 2021, at 6:55 p.m. ET. The presentation will be led by Maxine Moreau, President of Mass Markets. Investors can access the webcast through the Lumen Investor Relations website. Lumen Technologies operates across approximately 450,000 route fiber miles in over 60 countries, focusing on delivering secure platforms for applications and data, enhancing business and community experiences.
Lumen Technologies has agreed to sell its ILEC business, which includes consumer, small business, and enterprise customers in 20 states, to Apollo Global Management for $7.5 billion, including approximately $1.4 billion in debt assumption. The deal is part of Lumen's strategy to transform and grow, retaining its ILEC assets in 16 states and expanding its fiber network. The transaction is expected to close in the second half of 2022, subject to regulatory approvals. This move is aimed at meeting the rising demand for high-bandwidth connectivity.
Lumen Technologies reported Q2 2021 revenue of $4.924 billion, down from $5.192 billion in Q2 2020. Adjusted EBITDA reached $2.089 billion, showing stability compared to the previous year. The company authorized a $1.0 billion stock buyback and is set to sell its ILEC assets for $7.5 billion, bolstering future growth prospects. Lumen updated its 2021 outlook, projecting Free Cash Flow between $3.1 billion and $3.3 billion.
Lumen Technologies (NYSE: LUMN) is enhancing its network capacity with a new subsea fiber route connecting Richmond, Virginia, and Paris, France, utilizing the Google Dunant cable system. This move addresses the growing demand for international bandwidth, driven by a surge in cloud services, as 70% of organizations plan to increase spending on cloud connectivity. With 450,000 route fiber miles, Lumen aims to provide diverse, low-latency connections for global businesses. Services on the new route are set to be operational by September 2021.
Lumen Technologies (NYSE: LUMN) has signed an agreement to sell its Latin American business to Stonepeak for $2.7 billion. This sale, valued at approximately 9X the business' 2020 Estimated Adjusted EBITDA, allows Lumen to focus investments in key growth areas and provides flexibility for capital allocation. The current leadership team will remain in place under Stonepeak, which aims to enhance the business's market presence. Lumen will maintain a strategic relationship with the new company to serve existing customers in Latin America.
Lumen Technologies (NYSE: LUMN) has announced a significant expansion of its fiber network in Europe, enhancing service capabilities in France, Switzerland, and Spain. Key developments include a new 180-mile fiber route connecting Lyon and Geneva, with connections to three new cities. In Spain, a 170-mile segment was added to complete the national fiber ring. This expansion aims to provide faster connections, lower latency, and improved security, supporting the demand for high-speed broadband. The Lumen network now includes approximately 23,600 route miles in Europe, accessed by over 2,000 on-net buildings.
Lumen Technologies (NYSE: LUMN) has secured a significant 12-year task order valued at $52 million to enhance high-speed connectivity for the U.S. Army Recruiting Command. This contract, awarded under the General Services Administration's $50 billion Enterprise Infrastructure Solutions program, includes an initial one-year term with 11 additional one-year options. The high-speed internet and VoIP solutions will facilitate recruitment efforts across the U.S. and territories, supporting the Army's mission to attract qualified individuals.
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