By being named to Bloomberg BusinessWeek's Tech 100, CenturyLink's (NYSE: CTL) profile has risen above its small independent ILEC roots. Bloomberg's designation comes only two months after CenturyLink gained a spot on Fortune 500's largest U.S. companies list.
CenturyLink, which just officially changed its name two weeks ago, is ranked No. 7 and is No. 4 among U.S. companies on the list.
A series of key acquisitions has enabled CenturyLink to transform itself from small town telco and into a major U.S. ILEC player. While the service provider continually bought out smaller independent ILECs since current CEO Glen Post took the helm in the late 1990s, its first big move came in late 2008 when it acquired the former EMBARQ. Then in April, CenturyLink announced it would acquire Qwest Communications (NYSE: Q).
These acquisitions have immediately expanded CenturyLink's size and revenue potential. When the former CenturyTel bought EMBARQ, it tripled its size. And when it wraps its acquisition of Qwest early next year, CenturyLink will not only double its size, but it could generate $20 billion in annual revenue.
For more:
- thenewsstar.com has this article
- here's a link to the Tech 100 list
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