Lumen to acquire Alkira for $475M in cash

Lumen (LUMN) Technologies announced it has entered into an agreement to acquire Alkira, a cloud-native, carrier-agnostic networking platform that enables enterprises to design, deploy, and operate connectivity and network services across hybrid and multi-cloud environments. The proposed transaction pairs Alkira’s cloud-native control plane – the software layer that programs and orchestrates connectivity – with Lumen’s fiber network, advancing Lumen’s digital platform strategy to deliver cloud-like consumption for global enterprise networking. Lumen has agreed to acquire Alkira for $475 million in an all-cash transaction. The transaction is expected to be neutral to margin in the near term and accretive as the digital platform scales, while strengthening Lumen’s long-term free cash flow profile and reducing platform development execution risk and capital intensity. Lumen remains committed to its capital allocation priorities, including continued debt reduction. The transaction is expected to close in the third quarter of 2026, subject to customary regulatory approvals and closing conditions.