Zayo Group acquires Neo Telecoms
Zayo Group has today announced the acquisition of French bandwidth infrastructure company Neo Telecoms.
Neo Telecoms operates Paris’ first fibre-optic metro area network (MAN), and the acquisition will add 350 route miles and 500 on-net buildings to Zayo’s existing infrastructure.
The infrastructure will be integrated into Zayo’s European network, which connects London, Frankfurt and Amsterdam to the US.
“Neo has established a strong bandwidth infrastructure presence in France and we believe this acquisition will enable growth through our combined fibre footprint for end-to-end solutions,” said Dan Caruso, president and CEO of Zayo Group.
Neo Telecoms also operates nine co-location centres in France and offers more than 36,000 square feet of data centre space.
Neo’s principal founders Didier Soucheyre and Florian du Boys will remain part of the combined company, leading new business unit Zayo France.
“Neo has been focussed on a very similar bandwidth infrastructure product set and is well-aligned with Zayo’s focus on data centre connectivity,” said du Boys. “The combined networks of Neo and Zayo will provide our customers with the same key services, and now access to Zayo’s extensive international network.”
The sale price has not been disclosed but it is expected to be funded with cash on hand and to close in Q2 2014.
The acquisition forms part of Zayo’s European expansion strategy which last year saw the appointment of Alastair Kane as VP of Europe at the company.
On the other side of the Atlantic, just last month Zayo acquired Texas-based data centre provider CoreXchange.