Level 3 acquiring ICG for $163M

Wholesaler Level 3 has been slowly expanding its network footprint, recently acquiring Progress Telecom and WilTel. For a follow-up, the carrier has announced its decision to acquire Colorado-based ICG Communications for $163 million. ICG serves more than 1,600 customers over a network spanning 2,000 metro and regional fiber miles in Colorado and Ohio and 500 points of presence. Level 3 anticipates that the transaction will expand its transport, IP and voice businesses and extend its network footprint to meet anticipated demand and realize cost savings. The deal is expected to close mid-year 2006.

For more on Level 3's latest acquisition:
- read Level 3's press release