Level 3 Communications (NYSE:LVLT, news, filings) has been rather active over the past few days. Early this morning, they announced yet another online gaming CDN victory over in Europe - this time with Virtue Fusion (Alderney) Ltd. That's not exactly a household name, but the company offers white label Bingo and other networked gaming solutions that power a couple dozen popular online gambling sites. Virtue Fusion itself is located on the remote island of Guernsey in the English Channel, where no doubt it takes advantage of a favorable offshore tax environment or something, far from the bandwidth to power its gaming platform. Level 3's CDN of course takes care of that.
Yesterday, Level 3 also picked up a VoIP win with Colorado based IP5280 Communications, a company with a rather cryptic name that specializes in various advanced VoIP solutions and Unified Communications. IP5280 will be leveraging Level 3's Voice Termination and Local Inbound, amongst other things, to power the products it offers to businesses nationwide. For Level 3 every little bit helps, and their wholesale business is the core of the company - it must be doing well for the company to fulfill its promises of second half growth.
And finally, I have been told that despite my own ambivalence toward watching surfing online, the streaming of the Hurley Pro churned out some serious bits - some 280TB over just four days actually, with around 25,000 peak concurrent viewers each day. Hmmm, if my math is right, 280TB/4days = about 6.5Gbps average - much higher than that during the actual event hours I'm sure. Not too shabby... Online streaming of such events is really quite an elegant solution to reaching a niche market efficiently.
The company also closed its convertible debt offering: $175M at 6.5% with a strike price of $1.235. That's expensive money, I hope they put it to good use!
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