Level 3 Communications has completed the sale of its wholly owned subsidiary, Software Spectrum, to Insight Enterprises, a leading provider of information technology products and services. Software Spectrum is a leading reseller of business software and mobility solutions to large- and medium-sized organisations. Level 3 received total proceeds of US$353mn in cash, consisting of US$287mn in purchase price and approximately US$66mn in a working capital adjustment. The purchase price is subject to certain post-closing adjustments.
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