Under the terms of the agreement, Zayo will move from public to private and the Zayo team will continue to operate and implement the company`s strategy from its current headquarters in Colorado, the company said in a statement. The transaction includes $5.9 billion of Zayo`s net commitments, which will be supported by the two investment firms. The agreement grants Zayo shareholders $35.00 in cash per share of Zayo`s common stock and has been approved by Zayo`s Board of Directors. In April 2017, Zayo launched industry veteran Andrew Crouch as president and chief operating officer, who left the company in May 2018. At the same time, Zayo appointed Scott Forbush head of the chain, who meanwhile succomed as vice president of sales at Agent Telarus. “[Digital Colony and EQT Partners] are experienced global communications infrastructure investors and value our exceptional fiber optic infrastructure resources, talented team and strong customer base. I am confident that this partnership with EQT and Digital Colony will enable Zayo to accelerate its growth and strengthen its leadership in the industry,” said Dan Caruso, Zayo`s President and CEO, in a statement. Zayo`s extensive network spans 130,000 miles in North America and Europe and includes, according to the company, a major metro connection to thousands of buildings and data centers. Zayo`s communications infrastructure includes dark fibers, private data networks, wavelengths, Ethernet, dedicated Internet access and colocation services. The company owns and operates a tier 1 IP Backbone and 51 neutral computing centers.
The acquisition takes place because the company is based in Boulder, Colo. There are reports that the cluttered space faces challenges. In March, Zayo said it was exploring strategic alternatives, leading to speculation about a possible takeover offer. Frontier Communications Nabs Vodafone UK CEO To Steer Post Bankruptcy Turnaround SASE Specialist Cato Networks, Valued At `1B, Secures Record Funding Round Fiber Network Infrastructure Specialist and network service provider Zayo has been acquired and is managed by global investment firms Digital Colony Partners and private EQT partners. The 25 Hottest IoT And 5G Edge Services Companies: 2020 Edge Computing 100 Palo Alto Networks Takes On 5G Security With New Offerings [Related: Zayo Continues Its Network Infrastructure Tear, Plans to Acquire Canadian Telecom] Zayo was expected to release its fiscal third-quarter earnings on Thursday, but the carrier instead reported its earnings on Wednesday as it revealed the acquisition deal.