Lumen Acquiring Networking Company Alkira for $475 Million
The company beat revenue expectations in the first quarter.
WASHINGTON, May 6, 2026 – Lumen reached a deal to acquire networking software company Alkira for $475 million in cash, the company announced Tuesday.
Lumen beat Wall Street’s revenue expectations in the first quarter of 2026, posting $2.89 billion, but still reported a net loss of $200 million. The company closed the $5.75 billion sale of its consumer fiber business to AT&T during the quarter.
With the consumer business gone, Lumen is looking to provide connectivity to enterprises and hyperscalers. The company now has 2,500 network-as-a-service (NaaS) customers, CEO Kate Johnson said on the company’s earnings call Tuesday, up from 2,000 in February.
