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Monetization of non-core product lines, such as CDN contracts, allows Lumen to focus on strategic priorities
DENVER, Oct. 10, 2023 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) today announced the company has completed the sale of select Content Delivery Network (CDN) service contracts, to Akamai Technologies, Inc.
"We are deep into our transformation of Lumen and much of our core work involves simplification of our business," said Bob McCarthy, Lumen Senior Vice President, Business Development. "The sale of select Lumen CDN service contracts enables us to apply even more focus on disrupting the telecommunications industry by cloudifying our network, enhancing our Quantum Fiber offering and bringing amazing new solutions to market."
Lumen and Akamai will operate under a transition services agreement for 90 days, after which time Lumen plans to wind down its content delivery services. However, customers can immediately begin working with Akamai for all their CDN needs.
About Lumen Technologies:
Lumen connects the world. We are dedicated to furthering human progress through technology by connecting people, data, and applications – quickly, securely, and effortlessly. Everything we do at Lumen takes advantage of our network strength. From metro connectivity to long-haul data transport to our edge cloud, security, and managed service capabilities, we meet our customers' needs today and as they build for tomorrow. For news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies, and YouTube: /lumentechnologies.
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