Lumen Technologies is a famous American telecommunication company with headquarters in Monroe, Louisiana, US. The history of the company dates back to 1930 when Oak Ridge Telephone Company was founded. In due course of time and change in ownerships and several mergers, Lumen Technologies today is one of the Fortune 500 companies. It is also a member of the S & P 500 index. The main services provided by the company are cloud security, multi-cloud management, SaaS app, big data as a service, network, and many more. Lumen serves both national and international clients from North and Latin America, Africa, Europe, Asia Pacific, and the Middle East.
Oak Ridge Telephone Company
Tracing back the history of Lumen Technologies leads us to its predecessor Oak Ridge Telephone Company. In 1930, the owner of the company, F. E. Hogan sold the company to William Clarke and Marie Williams. The acquisition was closed for $500. In 1946, the ownership of the company was passed down to Clarke McRae Williams as a wedding gift. After one year, Clarke William purchased the Marion Telephone Company and it became the foundation of the company followed by several other acquisitions. As the ownership was passed on to William’s son, it remained a family-operated business until 1968.
As the company started expanding, in 1967 Oak Ridge provided 10,000 access lines in 3 states. In the same year, the company was incorporated as Central Telephone and Electronics to which Clarke M. Williams became the President. In the early 1970s, the company eventually moved its headquarters to Monroe. A lot of changes took place in the next two decades including renaming the company Century Telephone Enterprises Inc. In 1978, the company started trading publicly under the symbol CTL. During the early recession in the 1980s, the company suffered losses and the stock value declined to half. It recovered again in early 1985 and eventually started making a profit. In 1999, the company again changed its name to CenturyTel Inc.
Lumen Technologies in the 21st century
CenturyTel started acquiring a series of companies in 2000. Some of them include GTE lines in Arkansas and Missouri by partnering with Spectra Communications. It also acquired several lines from Verizon and partnered with Telephone USA of Wisconsin. The company acquired CSW Net in 2001, Digital Teleport, and SkyComm International (acquired half of the company) in 2003. CenturyTel also established several partnerships with leading companies in the communication sector like EchoStar Communications Corporation and Cingular Wireless.
With acquisitions of several lines and operating in 23 states, CenturyTel acquired Embarq in 2008 which made it the third-largest landline provider in Pennsylvania. The deal was closed for $6 billion. Embarq, when acquired, already operated in 18 states including Ohio, Nevada, Florida, and North Carolina. The newly merged company was named Century Link and the CEO of CenturyTel retained the position in the new company till 2018. In 2010, CenturyLink became a part of another big merger as it acquired Qwest in a stock-for-stock transaction. After acquiring Qwest, CenturyLink became the third largest telecommunication company in the US.
Acquisitions
After the two big mergers, respectively with Embarq and Qwest, the company also acquired many other businesses in the past few years. In 2011, it acquired Savvis which is an IT company and a global provider of cloud infrastructure. After this acquisition, CenturyLink rolled out an integrated cloud services suite called Savvisdirect. In 2012, the company acquired the ITO division of Ciber followed by AppFog, a Platform as a Service in 2013. CenturyLink also acquired a company called Tier 3 that mainly provided infrastructure as a service. Some of the other companies acquired by CenturyLink are DataGardens, Cognilytics, netAura, Edison, Streamroot, etc. Last year, the company announced that it is once again rebranding its name and this time it was Lumen Technologies.
Jeff Storey – CEO of Lumen Technologies
Jeff Storey has rich career experience in the telecommunication sector. He studied at Northeastern State University followed by Southern Methodist University where he got his master’s in the telecommunication system. He started working at Cox Communications followed by serving as the President and CEO of WilTel Communications. Jeff became the CEO of Lumen Technologies in 2018.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more