[Level 3 Communications Announces Acquisition of UltraLine Limited, a Transatlantic Service Provider]
(terms not announced. another Crowe crony rejoins the fold. -- mark)
UltraLine CEO Colin Williams to Join Level 3 as CEO of International Operations
OMAHA, Neb., July 13 /PRNewswire/ -- Level 3 Communications, Inc. announced today that it has acquired UltraLine Limited, a telecommunications start-up company offering high speed transatlantic service to business customers. The company was founded by Colin Williams following his retirement from WorldCom earlier this year, to capitalize on the rapidly growing market for transatlantic bandwidth capacity.
As part of the transaction, Colin Williams will join Level 3 and serve as President and Chief Executive Officer of Level 3 International and Executive Vice President of the parent corporation, Level 3 Communications, Inc. Previously, Williams served as President and CEO, and then as Chairman of WorldCom International, Inc. Prior to that, he started and built the international operations of MFS Communications, Inc., which merged with WorldCom in 1996.
"We are exceptionally pleased and fortunate to have Colin Williams join us to lead our international operations," said James Q. Crowe, president and CEO of Level 3 Communications. "He is one of the most experienced, savvy and successful leaders in our industry -- and an extraordinary entrepreneur.
"At MFS, he led our international operation from startup to more than a billion dollars in revenue in under five years and built the first competitive network infrastructure in a number of countries across Europe. Following the MFS WorldCom merger, he played an exceptional leadership role in bringing together the international operations of both companies, while substantially growing the combined business.
"We've known each other a long time, dating back to his years at British Telecom, when he was a leader in their international expansion effort. He was a key to our success at MFS, and I know he will be equally critical to our future success at Level 3."
Commenting on the UltraLine acquisition, Crowe said, "The acquisition will help accelerate our European strategy, which I know will be in good hands given Colin's exceptional results at MFS and WorldCom International."
Level 3 has previously announced its plans to build advanced city networks in 15 to 20 key financial centers in Europe and Asia, connecting many of them with a 3000 mile pan-European intercity network.
Commenting on his decision to sell his company and join Level 3, Williams explained, "Level 3 presents an extraordinary opportunity at this early stage of its plan to expand across Europe and Asia. I believe Level 3 will be one of the leaders in the industry as it moves from the technology of the past 100 years to the new era of Internet-based technology. I have tremendous respect for Jim Crowe and my other colleagues at Level 3, whom I have worked so closely with over the years. I have been fortunate to have been at the heart of the historic changes in the international telecoms market over the past decade. I can't imagine any challenge more rewarding than building a new company in that changing environment and trying to capitalize on the changes as they occur." |
