June 7, 2006
Level 3 announces agreement to purchase Looking Glass Networks Inc. for $165 million.
On June 5, Willkie client Level 3 Communications Inc. announced that it has agreed to purchase Looking Glass Networks Inc. for $165 million. This is the latest in a series of acquisitions by Level 3 over the past six months. Looking Glass has assets in major U.S. markets including Atlanta, Baltimore, Dallas, Los Angeles, New York, Philadelphia, San Francisco and Seattle, among others. Level 3, an international communications and information services company with one of the largest Internet backbones in the world, is developing a metro services unit to hold its newly acquired operations and its pre-existing local assets. In addition to the Looking Glass deal, the firm also recently advised Level 3 in its $1.2 billion agreement to acquire TelCove Inc., it’s $163 million acquisition of ICG Communications, Inc., and its $680 million acquisition of WilTel Communications. The deal was handled by partner David Boston and associate Adam Turteltaub.
