DAILYHOSTNEWS, October 8, 2011 – Zayo Group announced yesterday that it had struck a deal which will enable it acquire 360networks. Zayo enjoys a deep metropolitan fiber network across 60 US metropolitan markets while 360networks has a unique intercity fiber network spanning the central and western United States. For sure, it is clear that this acquisition brings together highly complementary assets. So far, Zayo has made 17 acquisitions since its debut in 2007 with the expected purchase of 360networks being the largest ever.
360networks operates 18,500 miles of integrated and metro fiber network across 22 states in the US and British Columbia. Its 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. The company also operates over 800 route miles of metropolitan fiber networks across 25 markets, including Seattle, Denver, Colorado Springs, Omaha, Sacramento, and Salt Lake City. With this rich connection, 360networks boasts of a fiber network of over 42,000 route miles and approximately 2 million fiber miles.
In a statement, Dan Caruso, CEO and president of Zayo Group said that their combination with 360networks marked a new milestone in their endeavor to provide Bandwidth Infrastructure service. “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.” He added. He also observed that the employees of 360networks were doing a fantastic job in growing their business and that with this purchase; they would be an integral part in the combined company
Initially, Zayo group provided its voice services through a separate entity: Onvoy voice services. This allowed the company to focus on its bandwidth infrastructure business. But with this expected purchase, the company plans to revamp its voice services by integrating the services offered by 360networks-which is incidentally a large scale supplier of Voice-over-IP services.
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“We view this combination as creating a great opportunity for customers, employees and shareholders,” said Chris Mueller, 360networks’ Vice Chairman. “The assets and talent of these two companies will create a unique capability to meet the growing needs of bandwidth intensive customers.”
The transaction is expected to be complete by early next year and the financial terms have not been made public yet.
About Zayo group
Zayo Group is a privately owned company based in Louisville. It is a national provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services. Zayo serves wireline and wireless carriers, data centers, internet content and services companies, high bandwidth enterprises as well as federal, state and local government agencies.
Website:http://www.zayo.com
About 360networks
Based in Seattle, 360networks is a full service wholesale provider of Private Line Transport, Ethernet, IP, and VoIP services, on its fiber optic backbone. Its facilities-based network provides deep coverage, spanning approximately 18,500 miles.
Website:http://www.360networks.com
