Zayo Bandwidth completes Onvoy acquisition
NOVEMBER 8, 2007 -- The acquisition extends Zayo's footprint into Minnesota.
NOVEMBER 8, 2007 -- Zayo Bandwidth (search for Zayo), a regional provider of high-bandwidth services, has finalized its acquisition of Minneapolis, MN-based telecommunications provider Onvoy. Earlier in August, Zayo and Onvoy announced a definitive agreement in which Zayo would purchase all of Onvoy's privately held stock. Terms of the agreement were not disclosed.
"Onvoy has a unique fiber network that covers all major markets in Minnesota. We look forward to working with our customers, partners, employees, and the greater Minnesota LEC community to build upon the reputation that Onvoy has as a leading telecom and managed services provider throughout the state of Minnesota." said Dan Caruso, CEO of Zayo. "Our plan includes growing and focusing on Onvoy's key product sets including voice and switched products, managed services, and core bandwidth/transport products. Businesses and institutions in the region have growing needs for these services."
Zayo assumes control of a network that serves six of the seven metropolitan statistical areas in Minnesota (Duluth, Moorhead, Grand Forks, Minneapolis/St Paul, Rochester, and St. Cloud), representing approximately 350 communities with a 1,400-mile fiber network (serving more than 50 on-net buildings) running throughout the state. Zayo says the network also has fiber interconnects with the majority of Minnesota's local exchange carriers, fiber that goes into 14 central offices and leased connections to 25 additional central offices.
In addition to Onvoy, Zayo recently completed three acquisitions: Indiana Fiber Works, a 2,200-fiber-route-mile network serving Indiana; PPL Telcom, a 4,600-fiber-route-mile network based in Allentown, PA, serving areas throughout the Northeast; and Memphis Networx, a 200-fiber-route-mile network serving the greater Memphis, TN, area.
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