Zayo Group announced its agreement to acquire 360networks holdings (USA), a
provider of fiber network and telecom services.
The acquisition combines complementary assets — Zayo’s metropolitan fiber
networks across 60 US metropolitan markets and 360networks’ intercity fiber
network spanning the central and western United States. 360networks will be the
largest of the 17 acquisitions made by Zayo
since its inception in 2007.
The transaction, subject to customary approvals, is expected to close by
early 2012. The financial terms have not been disclosed.
“The combination with 360networks marks a new chapter for Zayo, one in
which we emerge as a national provider of Bandwidth Infrastructure
service,” said Dan Caruso, president and CEO of Zayo Group.
“The near doubling of the network allows us to provide a greater range
of solutions, both in terms of markets served and ability to interconnect
services across the markets,” Caruso added.
360networks
operates over 18,500 route miles of intercity and metro fiber network across 22
states and British Columbia. 360networks’ intercity network interconnects over
70 markets across the central and western United States, including 24 Zayo
fiber markets and a number of new markets such as Albuquerque, Bismarck, Des
Moines, San Diego, San Francisco and Tucson.
In addition to its intercity network, 360networks operates over 800 route
miles of metropolitan fiber networks across 25 markets, including Seattle,
Denver, Colorado Springs, Omaha, Sacramento, and Salt Lake City. The resulting
combined fiber network will total over 42,000 route miles and nearly two
million fiber miles.
“We view this combination as creating a great opportunity for
customers, employees and shareholders,” said Chris Mueller, vice chairman,
360networks.
By Telecomlead.com Team
editor@telecomlead.com