Zayo Group completes 360networks buy

BizJournals.com

Zayo Group closed its purchase of the telecom 360networks on Friday, adding new markets and nearly doubling the scope of its network with 18,500 miles of additional fiber optic line.

It also completes the largest of Louisville-based Zayo’s 17 acquisitions since Dan Caruso and John Scarano, a pair of ICG and Level 3 telecom veterans, formed the company in 2007.

Zayo and 360networks Holding Co., based in Seattle, are privately held. Terms of their deal have not been disclosed.

“The combination of the two companies’ operations provides us with a platform to greatly expand our market and service coverage,” said Caruso, president and CEO of Zayo Group, in a written statement. “Given both companies’ focus on simple, bandwidth infrastructure services, we anticipate a rapid and smooth integration of the businesses.”

Zayo’s 24,500-mile intercity fiber optic network now connects 73 markets in 22 states, mostly U.S. central and western regions, as well as into Canada.

Acquiring 360networks also brought Zayo fiber networks in 25 metropolitan-areas, several of which are new markets for Zayo, including Albuquerque, N.M.; Bismarck, N.D.; Des Moines, Iowa; San Diego; San Francisco; and Tucson, Ariz.

Zayo Group employs about 150 people.

It sells wholesale fiber optic bandwidth to large companies and other telecoms — including major wireless carriers — as well as voice and managed data services to businesses.

Greg Maffei, CEO of Liberty Media Corp., is a former chairman and CEO of 360networks.