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Markets are left less than impressed, as shares continue in the red with investors who bought equity in the summer of 2016, loosing 60% of their investment today.
Founder and Editor, The Tech Capital
August 20, 2021 | 12:00 AM BST
Lumen Technologies (NYSE: LUMN) has introduced Lumen Edge Private Cloud as the business adapts to its multi-billion Dollar portfolio divestment moves.
Fully managed by Lumen, the Infrastructure-as-a-Service (IaaS) Edge Private Cloud is designed to provide pre-built infrastructure for private computing connected to a global fibre network.
According to 451 Research, part of S&P Global Market Intelligence, edge private cloud infrastructure has emerged as an approach that can deliver significant technology and business benefits to support critical industry edge workloads.
Enterprise respondents to the group’s Voice of the Enterprise: Internet of Things, Workloads and Key Projects 2021 survey cited cost (45%), availability of supporting compute, storage, and connectivity (44%), data sovereignty protection (42%) and location security (40%) as top concerns when choosing a venue to execute digital workloads for emerging use cases and applications.
Chris McReynolds, vice president of cloud edge product management for Lumen, said: “Lumen has decades of experience helping our customers implement private cloud solutions for critical workloads, and now we are extending our private cloud capabilities onto our ultra-low latency edge platform.
“We can help our customers enhance experiences, enhance application performance, and improve security and control — with speed and at scale by empowering them to deploy workloads closer to digital interactions on pre-built hardware and managed infrastructure. With Lumen Edge Private Cloud our customers can have a customized private cloud environment running within days, with Lumen assisting with design, implementation, managed services, and security consulting.”
The launch comes a mere 14 days after Lumen – previously known as CenturyLink – entered into a definitive agreement to divest a large pool of telecommunications assets to funds managed by affiliates of private equity firm Apollo Global Management, Inc. (NYSE: APO) for US$7.5 billion.
Just last month, the telco machine also signed a definitive agreement with US$37 billion alternative investment firm Stonepeak Infrastructure Partners to sell its Latin American business for $2.7 billion.
Lumen’s stock has been trading in the red today at minus 2.41% at the time of writing (4:14pm BST).
The company, which debuted on the NYSE in 1984, has since 2008 been on an overall decline when it comes to share value, despite a good recovery in 2011, which has now been quadripartite ever since.
In the five-year run to today, investors who bought stock in August 2016 are now faced with about 60% losses on their investment.
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