Thursday, July 20, 2006

Level 3 Sells Software Subsidiary For $287M

Broomfield, Colorado-based Level 3 Communications said Thursday that is is selling its Software Spectrum subsidiary to Arizona-based Insight Enterprises, a provider of information technology products and services. The deal is worth $287 million in cash. Software Spectrum resells business software to large and medium-sized businesses. Level 3 said that the sale would increase it's ability to pursue opportunities more central to the firm's communications business. Insight sells computers to small and medium sized businesses.