Level 3 Buying ICG For $163 million
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Level 3 signed a definitive agreement to acquire closely held ICG Communications for $163 million in cash and stock.
Level 3, Broomfield, Colo., said it would issue $127 million in unregistered shares and hand over $36 million in cash for ICG, which provides transport, IP and voice services to wireline and wireless carriers, Internet service providers and enterprise customers. ICG’s network has over 2,000 metro and regional fiber miles in Colorado and Ohio and includes 500 points of presence. ICG serves more than 1,600 customers.
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