Zayo Group to buy Citynet's Wholesale Division
DECEMBER 13, 2007 -- This will be the sixth acquisition by Zayo since May 2007.
DECEMBER 13, 2007 -- Zayo Group, a regional provider of bandwidth and telecom services, has announced it has signed a definitive agreement to acquire Tulsa, OK-based Citynet Fiber Network (CFN), the wholesale division of communications provider Citynet. CFN will become part of Zayo Bandwidth, Zayo Group's fiber-based bandwidth business unit.
This will be the sixth acquisition by Zayo since May 2007. The acquisition is expected to close in the first quarter of 2008. Terms of the agreement were not disclosed.
"CFN's network complements our existing metro and regional networks by increasing our fiber footprint in the Mid-Atlantic and Midwest regions," explained Dan Caruso, CEO of Zayo Group. "CFN has an excellent customer service, installation and maintenance reputation and we look forward to combining the best practices and capabilities of both companies."
The CFN network has 8,500 route miles of fiber covering 57 Tier I-III markets in 10 states. The company's on-net buildings include local exchange carrier central offices, carrier hotels, and wireless mobile switching centers.
Upon completion of the acquisition, Zayo will have doubled its metro and regional fiber route miles to 17,000 serving more than 1,000 on-net building locations.
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