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"CenturyLink is the industry's largest telecommunications company with a proven track record of successfully completing transactions in the telecommunications industry," CEO Glen Post said in a statement. "Level 3 is a great fit as we look to expand our capabilities as the world's largest and leading telecommunications company. We believe that our combined company will be the first in the industry to invest in the full suite of global communications services -- including access, interconnection and content delivery -- on a global scale, offering consumers the best, most efficient and highest quality telecommunications experience." CenturyLink said the deal is worth about $28 billion. The company's share price rose 8 percent after the news and closed up 1.5 percent at $25.61. Level 3's stock was down 0.4 percent and was trading at $18.53. The deal would bring together two companies that compete in the wholesale and high-speed Internet market, selling Internet capacity to companies that need bandwidth to transfer data. The deal is expected to close by the end of Q4. Under the terms of the agreement, Level 3 shareholders will receive 0.79 shares of CenturyLink for each share of Level 3. The deal is expected to close by the end of Q4 and is subject to customary closing conditions and regulatory approvals. Founded in 1993 and headquartered in Englewood, Colo., Level 3 is one of the largest global Internet infrastructure providers, with approximately 4,500 employees worldwide. The company offers services to more than 2,000 customers in 22 countries, including CenturyLink. It provides Internet backbone services to operators and Internet service providers, providing services that range from Internet access to specialized services to businesses and consumers. "We look forward to working with Level 3's management team to integrate the business and build on the strong track record that Level 3 has demonstrated over the past decade," Post said in a statement. "The combination with CenturyLink will be a game changer in the communications industry, enabling us to drive the industry to greater success and innovation." Level 3 and CenturyLink have been working together for the past 18 months, and CenturyLink had a right of first offer. The companies announced a nonbinding letter of intent in August 2010. 1a423ce670 TidyDesk What's New In? System Requirements For TidyDesk: ASUS ROG STRIX X570-E Gaming The ASUS ROG STRIX X570-E Gaming motherboard, part of the ASUS STRIX X570 motherboards series, has been created to give enthusiasts the performance they have always wanted from their X570 motherboard. This PCB is equipped with a plethora of features for a multitude of different users, from high-end gamers, over enthusiasts and everything in between. 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