Zayo confirms 360networks takeover

10 Oct 2011

Colorado-based fibre-optic infrastructure provider Zayo Group has confirmed that it has executed a definitive agreement to acquire Seattle-based 360networks, a full-service wholesale provider, which operates over 18,500 route miles of intercity and metro fibre across 22 US states and British Columbia (Canada). 360networks’ inter-city network covers around 70 markets across the central and western United States, including 24 existing Zayo fibre markets, and a number of key new markets such as: Albuquerque, Bismarck, Des Moines, San Diego, San Francisco and Tucson. In addition, 360networks has over 800 route miles of metropolitan fibre, covering 25 markets including: Seattle, Denver, Colorado Springs, Omaha, Sacramento and Salt Lake City. Going forward, the combined fibre network will total over 42,000 route miles and nearly two million fibre miles. The deal with 360networks represents the largest of the 17 acquisitions completed by Zayo since its inception in 2007.

Dan Caruso, president and CEO of Zayo Group, commented: ‘The combination with 360networks marks a new chapter for Zayo, one in which we emerge as a national provider of bandwidth infrastructure services. 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’. The transaction, subject to customary approvals, is expected to close by early-2012. The financial terms have not been disclosed.

United States