Fiber optic network infrastructure specialist and network service provider Zayo has been acquired by global investment firms Digital Colony Partners and EQT Partners and is in the process of privatization. The transaction includes $5.9 billion in Zayo`s net debt, which the two investment firms will assume. The agreement grants Zayo shareholders $35.00 in cash per Zayo common share and has been approved by Zayo`s Board of Directors. By using this website, you consent to security monitoring and auditing. For security reasons and to ensure that the public service remains accessible to users, this state computer system uses network traffic monitoring programs to identify unauthorized attempts to upload or modify information, or otherwise cause damage, including attempts to deny service to users. Zayo`s extensive network spans 130,000 miles across North America and Europe and includes extended metro connectivity to thousands of buildings and data centers, the company said. Zayo`s communication infrastructure includes dark fiber, private data networks, wavelengths, Ethernet, dedicated internet access and colocation services. The company owns and operates a Tier 1 IP backbone and 51 carrier-neutral data centers. Zayo recruited industry veteran Andrew Crouch as President and Chief Operating Officer in April 2017, who left the company in May 2018.
At the same time, Zayo appointed Scott Asbush as channel chief, who is now moving to Master Agent Telarus as the company`s senior vice president of sales. Through the terms of the agreement, Zayo will move from the public sector to the private sector 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 company said the asking price represents a 32 percent premium to the volume-weighted average of $26.44 over the past six months. Zayo shares rose 7.84% to $33.02 on Wednesday afternoon. Zayo was due to release its third-quarter results on Thursday, but the airline instead reported its profits on Wednesday when it announced the buyout deal. Zayo generated revenue of $647.2 million during the period, beating Wall Street`s forecast of $640.2 million. The 25 Hottest IoT and 5G Edge Services Companies: Edge Computing 100 2020 Communication Infrastructure Provider Zayo Group Holdings Inc. said Wednesday that it has agreed to be acquired by global investment firms Digital Colony Partners and the EQT Infrastructure IV fund as part of a $14.3 billion deal.
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