Zayo spins out its European business

May 8, 2024
The service provider says this will enhance its footing in North America and Europe.

Zayo has taken steps to create two independent entities for its North American and European businesses to drive new growth opportunities in both regions.

These entities will include Zayo’s European business, and the other will encompass its business, which manages customers’ global network needs outside of Zayo’s core North American and European networks.

The company said separating the two units will give flexibility to capitalize on unique growth opportunities, simplify operations, and align strategic and business objectives to drive long-term value for Zayo, its customers, and the newly independent entities.

Headed by newly-appointed CEO Colman Deegan, Zayo Europe already operates a largely autonomous, mostly-owned fiber infrastructure network across eight Western European countries. Zayo Europe will maintain key employee hubs in London, Paris, Stuttgart, and Sofia. 

As a standalone business, the company said that Zayo Europe will be better positioned to achieve growth objectives across the Western European markets in which it operates. Zayo and Zayo Europe will remain under the same ownership group and offer network services globally through formal contracts. 

"The transition of our European business into an independent entity marks a pivotal moment in Zayo Group’s strategic journey as we look to maximize our potential across the continent,” said Steve Smith, CEO at Zayo. “Under the experienced leadership of Colman Deegan, our shared owners will continue to invest in Zayo Europe and position the organization for accelerated growth and momentum in the European market.”

After the separation, Zayo Europe will have a new board of directors, with Jens Schulte-Bockum as chairman. Schulte-Bockum is the former CEO of Vodafone Germany and Group COO of MTN Group. 

Zayo’s business that manages our customers’ global network needs outside of Zayo’s core North American and European networks will also become a standalone entity with a separate management team that will continue to support North American and European customers’ international network expansions. 

Planning is underway to complete these separations, with total legal separation anticipated in the second half of 2024.

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