Zayo acquires 360networks
02 December 2011 |
US fibre provider Zayo has completed its acquisition of 360 networks for an estimated $345 million. The move gives the company a fibre network of more than 44,000 route miles and nearly two million fibre miles.
360network’s 18,500 route miles of metropolitan and intercity fibre will be added to Zayo’s network, interconnecting 73 markets across the central and western US including 24 Zayo fibre markets. The acquisition will also provide Zayo with access to markets including Albuquerque, Bismarck, Des Moines, San Diego, San Francisco and Tucson.
“The combination of the two companies’ operations provides us with a platform to greatly expand our market and service coverage,” said Dan Caruso, president and CEO of Zayo Group. “Given both companies’ focus on simple, bandwidth infrastructure services, we anticipate a rapid and smooth integration of the businesses.”
Under the deal, 360networks’ wholesale VoIP business will be absorbed by Zayo’s Onvoy Voice Services, in a move that is claimed will increase Onvoy’s coverage and scalability as a national voice service provider.
The acquisition of 360networks follows a long-term agreement with an option to extend which was made between the two companies in March this year.
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