Zayo acquires Kansas fibre network
Zayo has agreed to acquire the carrier and enterprise unit of Kansas-based IdeaTek Systems.
IdeaTek operates a fibre network in Kansas, as well as a dense metro footprint in Wichita, and the acquisition will add 1,800 route miles to Zayo’s network in the region.
“IdeaTek’s customer base and installation pipeline complements Zayo’s existing infrastructure focus and supports our domestic long-haul network build-out,” said Dan Caruso, chairman and CEO at Zayo Group.
“By integrating the networks, Zayo is now able to provide more comprehensive, end-to-end dark fibre and bandwidth solutions to our customers."
IdeaTek will retain its residential and small-commercial divisions, and was reportedly approached by a number of firms interested in developing the company.
“After reviewing these offers, we made the choice that we believe will be best for our customers,” said Daniel Friesen, founder, president and CEO at IdeaTek. “I’m confident this will be a seamless transition and will result in business as usual for these customers.”
Financial details have not been disclosed, but Zayo will fund the acquisition with cash on hand. The deal is expected to close in early 2015.