Lumen Technologies Sells Residential Business to AT&T for $6 Billion

Deal News | May 22, 2025 | EIN

Lumen Technologies Sells Residential Business to AT&T for $6 Billion

Lumen Technologies, previously known as CenturyLink, has entered into an agreement to sell its residential business to AT&T for $6 billion. The transaction will allow AT&T to expand its fiber technology, acquiring one million new internet customers and enhancing its presence in 11 states, including Denver. This move aligns with AT&T's ambition to double the reach of its fiber connectivity by 2030. Concurrently, Lumen plans to utilize the sale proceeds to reduce its debt and focus on enterprise services, retaining core infrastructure to continue innovating for business clients. This transaction, pending regulatory approvals, is expected to conclude in the first half of 2026.

Sectors

  • Telecommunications
  • Technology Infrastructure

Geography

  • United States – The transaction impacts and expands AT&T's operations in various U.S. locations, including 11 states such as Colorado.
  • Colorado – Lumen Technologies is headquartered in Colorado, and the transaction affects Colorado, including the metro area of Denver.

Industry

  • Telecommunications – Both Lumen Technologies and AT&T operate in the telecommunications industry, providing internet and related services.
  • Technology Infrastructure – The acquisition is focused on expanding fiber-optic technology and connectivity infrastructure, crucial components of technology infrastructure.

Financials

  • 6 Billion USD – The total value for the sale of Lumen Technologies' residential business to AT&T.
  • 5.75 Billion USD – The acquisition amount AT&T is paying to gain additional residential customers and expand its fiber network.

Participants

NameRoleTypeDescription
Lumen TechnologiesTarget CompanyCompanyLumen Technologies is selling its residential business as part of a strategic realignment to refocus on enterprise clients.
AT&TBidding Company/BuyerCompanyAT&T is purchasing Lumen's residential business to expand its fiber network and customer base.
John StankeyCEO of AT&TPersonAs CEO of AT&T, John Stankey is overseeing the company’s strategy and communications regarding the acquisition.
Kate JohnsonCEO of Lumen TechnologiesPersonKate Johnson is leading Lumen's strategic pivot towards enterprise services following the divestiture of its residential segment.