Zayo expands Vancouver network by buying Optic Zoo for $24m
Zayo has spent $24.9 million buying Canadian fibre company Optic Zoo, which has 103 route miles in the Vancouver area.
Privately owned Optic Zoo says it has more than 100 on-net buildings in the city of Vancouver, British Columbia, and surrounding areas.
“The addition of Optic Zoo, with its pure play assets and innovative team, will complement our Canadian footprint and accelerate our traction in a rapidly growing media and technology hub,” said Jack Waters, CTO and president of fibre solutions at Zayo.
“Optic Zoo has built a strong and growing business, attracted an impressive customer base and delivered revenue growth rates of more than 20%.”
Zayo spent C$31 million, the equivalent of US $24.9 million, on the company, funded from Zayo’s cash and from debt.
There are no public figures for Optic Zoo’s revenue, but Zayo says the acquisition is expected to generate annualised EBITDA of $1.5 million in the current quarter. Bank Street Group advised Optic Zoo in connection with the transaction.
Optic Zoo’s own website – which hasn’t been updated since 2016 – has relatively little information about the company or its network and no information about its senior staff.
The website says that most of the network is in ducts “at least a metre below the road”, with the rest on electricity poles. “Our solutions are content-neutral and responsive to the needs of international and domestic telecommunication carriers, enterprise customers and government agencies.”
It list of customers includes Cologix, Hootsuite, managed service provider GT.net, video surveillance company Avigilon and children’s video company DHX Media.