E²F News
 

E2F Selects ANGLE Technology to Provide Strategic Planning
October 4, 2007

The Enterprise and Empowerment Foundation of Norfolk State University (E2F) recently announced that ANGLE Technology Group, LLC has been selected to provide strategic business and marketing planning services that will serve as the blueprint for the continued development of the RISE Campus^TM

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Four New Members Join the E2F Board of Directors
August 16, 2007

The Enterprise and Empowerment Foundation of Norfolk State University (E2F) recently announced that Maurice Kelly, Glen C. Moore, Gary L. Whaley, and Jon S. Wheeler have joined its Board of Directors effective June 2007.

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Level 3 buys TelCove for $1 billion
September 06, 2006

Continuing its string of recent acquisitions, Internet backbone provider Level 3 Communications said Monday that it plans to buy regional Internet service provider TelCove.

Level 3 will pay a little more than $1 billion for TelCove. About $637 million of that price tag will be paid in stock and roughly another $445 million will be paid in cash. Level 3 will assume about $156 million in debt. 

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Level 3 to Acquire TelCove
September 05, 2006

BROOMFIELD, Colo., May 1, 2006 — Level 3 Communications, Inc. (Nasdaq:LVLT) today announced that it has signed a definitive agreement to acquire TelCove, Inc., a privately held Pennsylvania-based telecommunications company. Under terms of the agreement, Level 3 will pay total consideration of $1.2375 billion, consisting of $637 million in shares of Level 3 common stock, $445 million in cash and $155.5 million in the assumption of debt.

"The acquisition of TelCove increases our ability to provide end-to-end bandwidth services to our customers," said James Q. Crowe, chief executive officer of Level 3. "In addition to the contribution to operating margins, this additional metropolitan and regional capability will enable us to extend the network reach we offer to our customers and enable TelCove’s customers to benefit from our national network and broad suite of IP-based services.

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Letter - Level 3 Communications, Inc. ("Level 3") and TelCove, Inc.("TelCove") has closed merger agreement
July 25, 2006

Dear Valued Customer:

I'm pleased to announce that Level 3 Communications, Inc. ("Level 3") and TelCove, Inc.("TelCove") have closed the merger agreement previously announced on May 1, 2006. TelCove is now a wholly-owned subsidiary of Level 3. With this complete, Level 3 is now among the largest competitive communications carriers in the United States, with metro fiber-optic assets in more than 100 markets. These assets, of course, are in addition to the company's global IP backbone, intercity networks in the United States and in Europe and other key technologies.

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Level 3 closed its previously announced acquisition of TelCove, Inc.
July 24, 2006

On July 24, 2006, Level 3 closed its previously announced acquisition of TelCove, Inc., a privately held Pennsylvania-based telecommunications company. Level 3 paid consideration to the TelCove security holders of 149,944,647 million shares of Level 3 common stock and approximately $445.8 million in cash. Also in connection with the closing, Level 3 is using approximately $132 million in cash to pay off outstanding TelCove debt. The transaction also included approximately $13 million in capital leases, which are expected to remain outstanding.

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