Zayo to acquire Geo Networks
19 May 2014 | Kavit Majithia
Zayo has further solidified its presence in the UK after striking a deal to acquire London dark fibre provider Geo Networks.
The deal adds over 2,100 route miles to Zayo’s European network, and adds connectivity to 587 on-net buildings.
Zayo’s acquisition of Geo is predominately intended to increase the company’s presence in the UK, adding 1,800 national fibre miles and connections to 130 data centres, telehouses and internet exchanges.
It also provides direct access to major cities including Manchester, Birmingham and other commercial regions.
Geo’s fibre is also intended to enable Zayo to establish a presence in Ireland through its diverse optical fibre subsea system.
“Geo’s extensive fibre and conduit assets complement our existing London footprint and bring an increased breadth to our UK network,” said Dan Caruso, CEO at Zayo. “Additionally, diverse connectivity to Dublin is critical as it continues to develop as an international data centre hub.”
Geo was founded in 2002 and provides connectivity to a range of media companies, service providers, financial services, data centres and gaming organisations.
“Zayo is a bandwidth Infrastructure leader with a growing international presence,” said Chris Smedley CEO at Geo Networks. “Our customers will not only benefit from the expanded reach of the combined network, but also the opportunity to access Zayo’s full suite of services.”
The deal will close immediately and will be funded by a combination of cash and through Zayo’s credit facility.
Other financial details were not disclosed.
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