L(3) sells off outsourcing subsidiary (i)Structure
Michael Cooney writes in NetworkWorld:
After reporting disappointing third-quarter earnings last week, network operator Level 3 Communications Wednesday sold off its outsourcing subsidiary for $81.5 million to Infocrossing, a technology and business process outsourcing provider.
The proposed deal for Level 3's (i)Structure business is an effort by the company to shed itself of what it termed non-core businesses. Once the sale is final -- expected in the fourth quarter of 2005 -- (i)Structure's 300 employees will become employees of Infocrossing, which currently has almost 550 workers. (i)Structure has IT operations in Omaha, Neb., and Tempe, Ariz.