AT&T is making major moves in the fiber cable space. The telecom giant has clinched a deal to acquire Lumen Technologies’ consumer fiber operations for $5.75 billion in cash, the companies said on Wednesday.
Lumen Technologies, formerly known as CenturyLink, is a U.S.-based telecommunications and technology company providing integrated solutions to businesses and government agencies.
Headquartered in Monroe, Louisiana, Lumen delivers fiber-optic-based networking, cloud connectivity, security, voice, and managed services. The company operates one of the world’s largest and most connected networks, supporting edge computing and digital transformation. Its platform, Lumen Platform, aims to enable innovation through adaptive networking, edge cloud, and IT agility. Lumen primarily serves enterprise customers, offering scalable solutions to support data-driven applications and hybrid work environments. The company is evolving toward next-generation technologies and high-performance networking infrastructure.
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Lumen’s shares were up 13% in after-market trading on the sale of the business, which provides high-speed internet services to residential customers.
The deal allows Lumen to focus on growing the company’s enterprise fiber business, Lumen Chief Financial Officer Chris Stansbury told Reuters.
“The customers are asking us to go faster, which is really to deliver their needs in a multi cloud, AI-first world,” Stansbury added.
For AT&T this purchase would support their long-term goal of doubling their fiber network by 2030. Lumen, in turn, will use the funds to reduce debt and focus on its core enterprise services, including advanced fiber networks for businesses. The deal is expected to close in 2026 and reflects a broader trend of telecom companies focusing on fiber infrastructure and next-generation connectivity solutions.
AT&T Inc. is a major U.S. telecommunications company headquartered in Dallas, Texas. It provides wireless, broadband, and fiber internet services to millions of consumers and businesses. Founded in 1983 and rebranded in 2005, AT&T operates through segments including Communications and Latin America. The company is heavily investing in 5G and fiber infrastructure to expand high-speed internet access across urban and rural areas. AT&T is also working to close the digital divide, with a $5 billion commitment to connect underserved communities by 2030. Under CEO John Stankey, the company is refocusing on core telecom services and strengthening financial stability.