Dec. 13, 2007 – Zayo Group, a regional provider of bandwidth and telecom services, today announced it has signed a definitive agreement to acquire Tulsa, Okla.-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 compliments 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 ten states. The company’s on-net buildings encompass many major carrier locations like 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.
About Zayo Group
Based in Louisville, Colo., Zayo Group was organized to support the unique needs of its customers and consists of three distinct business units: Zayo Bandwidth offers high bandwidth services for carriers, technology companies, state and government agencies, educational institutions and the healthcare and financial industries; Onvoy Voice Services provides switched access, long distance, SS7, directory assistance and operator services to local exchange carriers and other communications providers; and Zayo Managed
Services enables private and public sector companies to avoid the expense and hassle of managing their voice, video and data services by deploying and managing those services for its customers. Zayo Group is backed by Columbia Capital, M/C Venture Partners, Oak Investment Partners, Battery Ventures and Centennial Ventures. www.zayo.com .