Level 3 absorbs Genuity

The assets of bankrupt network services provider Genuity Inc., Woburn, Mass., which counts as its customers the Defense Department and state agencies, are being acquired by Level 3 Communications Inc., Broomfield, Colo.

Level 3 will pay approximately $242 million for the assets of the company, which filed for bankruptcy to facilitate the sale. The deal was announced Nov. 27.

Under the terms of the proposed acquisition, Level 3 will operate Genuity as a separate business unit, while taking on some of the customers of its Tier 1 network service. On Dec. 2., the U.S. Bankruptcy Court for the Southern District of New York approved orders that will allow Genuity to conduct business as usual for all its customers, employees and suppliers.

 

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • POWER TRAINING: How to engage your customers

    Don't miss our June 7 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.