This acquisition expands our footprint to include three new metro markets, while growing our networks in Chicago and Cincinnati
Louisville, CO (PRWEB) September 30, 2008
Zayo Group, a regional provider of fiber-based bandwidth, announced today it has signed an agreement to acquire network assets in six markets from Bridgeport, West Virginia-based, Citynet. The acquisition--Zayo's eleventh since July 2007--is expected to close at the end of this month.
Zayo's network currently spans 18,700 metro and regional fiber route miles, serving more than 1,200 on-net locations in 20 states. These statistics do not include additional network Zayo will acquire upon closing two previously announced acquisitions -- Columbia Fiber Solutions in the Pacific Northwest and the Adesta Communications Secured Creditor Trust in Colorado, Chicago, Illinois and the New Jersey coast -- both of which are also expected to close in September.
"This acquisition expands our footprint to include three new metro markets, while growing our networks in Chicago and Cincinnati," said John Scarano, COO of Zayo Group and President of Zayo Bandwidth. "By establishing and strengthening our metro presence in these areas, Zayo is better positioned to meet the growing bandwidth needs of both our in-place and targeted customers," he added.
The Citynet assets bring an additional 300 route miles of fiber to Zayo's core fiber network. Highlights of the assets include 58 route miles of metro fiber in Phoenix, Arizona, 131 route miles of metro fiber in Cincinnati, Ohio and 83 route miles of metro fiber in Dallas, Texas. In addition, Zayo will acquire smaller metro area fiber networks in Chicago, San Antonio and the tri-cities area in Tennessee.
"This sale is a win-win for both companies. This transaction gives Zayo entrance into new markets while providing Citynet with additional financial resources to be used towards aggressively expanding our core business in the Tier 2 and Tier 3 markets that we currently serve," said Jim Martin, President and CEO of Citynet.
The assets will become part of Zayo Bandwidth, Zayo Group's business unit that provides fiber-based bandwidth solutions to carriers, web-centric companies, public and educational institutions and enterprises. Zayo Bandwidth's services include Private Line, Wavelength, Ethernet, Internet and Colocation.
About Zayo Group
Based in Louisville, Colo., Zayo Group (zayo.com) is a regional provider of telecom services - including bandwidth, voice and managed services - to carrier, enterprise, SME and government customers. Zayo Group provides its service over a fiber network that spans 125 markets in 20 states. Zayo Group consists of three complimentary business units, Zayo Bandwidth, Zayo Managed Services and Onvoy Voice Services.
Zayo Group has strong financial backing from five experienced telecom and Internet investors: Columbia Capital (http://www.colcap.com), M/C Venture Partners (http://www.mcventurepartners.com), Oak Investment Partners (http://www.oakinv.com), Battery Ventures (http://www.battery.com) and Centennial Ventures (http://www.centennial.com). Zayo's significant financial backing provides the flexibility to extend and enhance its services and fiber network to support the ever-increasing bandwidth appetite of its customers.
About Zayo Bandwidth:
Zayo Bandwidth owns and operates fiber optic networks in regions throughout the US, providing bandwidth services including Private Line, Wavelength, Ethernet, Internet and Colocation. Zayo Bandwidth customers include carriers, web-centric companies, public institutions and enterprises. Zayo Bandwidth's mission is to provide fiber-based bandwidth, responsive solutions and a growing network.
About Zayo Managed Services:
Zayo Managed Services provides telecommunications, networking and web-based solutions to businesses, schools, hospitals, financial institutions, government agencies and non-profit organizations across the United States. Large, multi-site corporations to small, single-site agencies rely on the expertise of Zayo Managed Services.
About Onvoy Voice Services:
Onvoy Voice Services provides tandem switched access, long distance, SS7, directory assistance and operator services to local exchange carriers (LEC) and other communications providers. Onvoy Voice Services Operates one of the largest privately owned IP networks in Minnesota and, through peering agreements with other providers, can offer cost-effective solutions both regionally and nationally.
For more information contact:
sschultze @ zayo.com
# # #