CenturyLink Makes an Acquisition

By Eric Volkman – Nov 19, 2013 at 5:20PM

NYSE: LUMN

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The company has snapped up cloud services provider Tier 3.

CenturyLink (LUMN) now has a new asset in its portfolio. The company announced that it acquired Tier 3, a provider of public cloud services. The terms of the deal were not made public.

The offerings of the formerly private company, which is based in Seattle and was founded in 2006, are now available as "CenturyLink Cloud." Tier 3 founder and Chief Technology Officer Jared Wray will serve as CTO for the unit. In the press release announcing the acquisition, CenturyLink said that Cloud's suite of products "targets complex enterprise workloads and is user-friendly for businesses of all sizes."

Tier 3's Web URL now redirects to www.centurylinkcloud.com. In a blog post on the site, Wray said changes will be "minimal" for clients in the transition to new ownership.

Fool contributor Eric Volkman has no position in CenturyLink. Nor does The Motley Fool. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.