Lumen Technologies, Inc. LUMN has inked a deal to sell its Latin American business to Stonepeak for $2.7 billion.Lumen’s share price increased 2.3% on Jul 26 in response to the news, closing the session at $12.92.Headquartered in New York, Stonepeak is a leading alternative investment firm that specializes in infrastructure with almost $37 billion of assets under management.Based in Monroe, LA, Lumen is a facilities-based technology and communications company. With nearly 450,000 route fiber miles and customers in more than 60 countries, it provides various integrated services and solutions.Per the deal, Lumen will divest its Latin American business, which will operate as an independent, U.S.-headquartered portfolio company of Stonepeak, to be named the “New LATAM Company”. Lumen will continue to serve customers in North America and the EMEA and APAC regions.The present Latin American leadership team and organization will remain in place, headed by Hector Alonso, Lumen’s president for the region. Lumen will have a strategic partnership with the New LATAM Company, serving joint customers in the region.The transaction is expected to unlock value for Lumen’s shareholders and allow it to maintain its global presence. It will enable Lumen to accelerate investments in key growth areas and provide flexibility on capital allocation strategy for debt reduction and evaluation of share repurchases.AustralianSuper, Australia’s largest pension fund, is investing along with Stonepeak in this transaction. The deal, subject to regulatory approvals, is expected to be closed in the first half of 2022.Lumen’s shares have returned 30.6% in the past year against the industry’s decline of 25.4%.Image Source: Zacks Investment ResearchThe stock currently has a Zacks Rank #4 (Sell).Some better-ranked stocks in the industry are 360 DigiTech, Inc. QFIN, Blucora, Inc. BCOR and Seagate Technology Holdings plc STX, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.360 DigiTech delivered a trailing four-quarter earnings surprise of 42.2%, on average.Blucora pulled off a trailing four-quarter earnings surprise of 3.8%, on average.Seagate delivered a trailing four-quarter earnings surprise of 11.4%, on average. +1,500% Growth: One of 2021’s Most Exciting Investment Opportunities In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Seagate Technology Holdings PLC (STX): Free Stock Analysis Report Blucora, Inc. (BCOR): Free Stock Analysis Report 360 DigiTech, Inc. Sponsored ADR (QFIN): Free Stock Analysis Report Lumen Technologies, Inc. (LUMN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research