BROOMFIELD, Colo. (AP) _ Level 3 Communications says it'll pay $680-million for the Internet access and services company, WilTel Communications Group.
Level 3 will pay $370-million cash, and issue 115-million shares in the deal.
The Broomfield-based company operates Internet protocol-based fiber-optic networks.
WilTel is headquartered in Tulsa, and delivers voice, data, video and IP services over a next-generation fiber-optic network.
WilTel is a subsidiary of New York-based Leucadia National Corporation.
The acquisition includes all of WilTel's communications business, including a multiyear contract with SBC Communications, and WilTel's Vyvx video transmission business.
The deal is expected to close in the first quarter of 2006.
Level 3 president and Chief Operating Officer Kevin O'Hara says the combined companies will reach 50 new markets and include three-thousand new route miles, compared with Level 3's pre-acquisition facilities.