US fibre network company Zayo Group has agreed to acquire another fibre company, 360Networks, for an undisclosed amount.
Colorado-based Zayo has a network of over 24,000 route miles across 31 states. 360Networks, which is based in Seattle, has a network…
US fibre network company Zayo Group has agreed to acquire another fibre company, 360Networks, for an undisclosed amount.
Colorado-based Zayo has a network of over 24,000 route miles across 31 states. 360Networks, which is based in Seattle, has a network of over 18,500 route miles. It also provides VoIP services.
The deal is expected to close by early 2012.
Zayo said that the deal combines complementary assets: Zayo’s metropolitan fibre networks and 360Networks’s intercity fibre network in the southern and western US.
Zayo has already spun off its own voice services into a separate company, Onvoy Voice Services (OVS). It now plans to spin off 360Networks’s VoIP operation into OVS as well.
Zayo’s president and CEO, Dan Caruso, said that the deal would allow Zayo to “emerge as a national provider of 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 said.
