LOUISVILLE, Colo., Sept. 10 /PRNewswire/ -- Zayo Group, a regional provider of bandwidth and telecom solutions, announced today it has successfully completed its acquisition of FiberNet Telecom Group, Inc. (formerly Nasdaq: FTGX), a leading provider of colocation and complex interconnection services.
Today's announcement marks the beginning of Zayo as the exclusive manager and operator of the 60 Hudson St. Meet-Me-Room in New York City, one of the world's largest interconnect exchanges. Zayo acquires similar colocation and interconnection responsibilities at 165 Halsey in New Jersey, 111 8th Ave. in New York City, and in key locations in Chicago, Miami and Los Angeles.
Zayo also now gains FiberNet's revenue resulting from U.S. connectivity services it provided to and from carriers from Europe, Asia and South America.
"The strategic foundation of Zayo Group is to provide bandwidth infrastructure services to carriers, internet companies, and other large consumers of bandwidth," explained Dan Caruso, CEO of Zayo Group. "FiberNet's important role in providing connectivity in and between the major carrier hotels is a natural extension of Zayo's bandwidth services."
Zayo Group presently consists of three business units: Zayo Bandwidth, Zayo Enterprise Networks, and Onvoy Voice Services. As a component of the integration of FiberNet, Zayo will launch a fourth business unit, to be named in the immediate future. This organization will be staffed with experts from FiberNet and Zayo dedicated to providing world-class, carrier-neutral colocation and interconnection services.
Zayo Bandwidth's existing network connects to several of the same buildings where FiberNet provides services. The interconnection of both networks will occur almost immediately and Zayo Bandwidth will absorb FiberNet's transport network and business.
"FiberNet has a deep presence in the most important telecommunications buildings in the U.S., particularly the greater New York / New Jersey metro region," said John Scarano, President of Zayo Bandwidth. "Zayo extends the on-net reach to hundreds of other important telecom buildings across the Northeast and Midwest regions of the United States. FiberNet and Zayo customers will all have opportunities to benefit from the combination."
Zayo thanks the investors, executive team, and employees of FiberNet. Over a 10-year period, the FiberNet team built an important telecom business and has provided network-critical bandwidth infrastructures to many of the world's largest telecom carriers. Zayo appreciates the support it received during the closing process.
About Zayo Group
Based in Louisville, Colo., Zayo Group (http://www.zayo.com/) is a regional provider of telecom services - including bandwidth, voice and managed services - to carrier, enterprise, SME and government customers. Zayo Group currently provides its service over a fiber network that spans 129 markets in 23 states. Zayo Group consists of three complementary business units: Zayo Bandwidth, Zayo Enterprise Networks and Onvoy Voice Services. For various Group updates, follow Zayo on Twitter: ZayoGroup.
DATASOURCE: Zayo Group
CONTACT: Katie McCoy, +1-303-381-3273,
Web Site: http://www.zayo.com/
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