Customers to benefit immediately from expanded West Coast
infrastructure
BOULDER, Colo. –
Zayo Group Holdings, Inc. (NYSE: ZAYO) today announced it has closed its
$1.42 billion acquisition of Electric Lightwave (formerly known as
Integra Telecom), an infrastructure and telecom services provider
serving 35 markets in the western U.S.
The acquisition adds 8,100 route miles of long haul fiber and 4,000
miles of dense metro fiber across Denver, Minneapolis, Phoenix,
Portland, Seattle, Sacramento, San Francisco, San Jose, Salt Lake City,
Spokane and Boise, with on-net connectivity to more than 3,100
enterprise buildings and 100 data centers.
“The acquisition creates a synergistic network presence across the
strategically important West Coast markets and strengthens our position
as the only nationwide independent provider of communications
infrastructure,” said Dan Caruso, Zayo chairman and CEO. “Because of the
complementary nature of the acquisition, and our Tranzact platform, we
can begin cross-selling our full suite of services immediately.”
The portion of Electric Lightwave’s revenue that aligns with Zayo’s
infrastructure-focused business segments will be rapidly integrated into
Zayo’s Dark Fiber and Network Connectivity business segments. The
remaining cash-flow generating unified communications business will be
integrated with Zayo’s Canadian SME and voice businesses.
The combined network and infrastructure solutions are available
immediately to Zayo and Electric Lightwave customers through their
account representatives or via Tranzact,
Zayo’s platform for purchasing and managing infrastructure. The suite of
services includes dark fiber, wavelengths, Ethernet, IP, data center and
cloud infrastructure across the combined network.
The acquisition was funded through debt and cash on hand, utilizing the
net proceeds of Zayo’s January 2017 $650 million incremental term loan
and $800 million offering of 5.750 percent Senior Notes.
Zayo will host a conference call on Friday, March 17 at 8:30 a.m. MDT to
discuss the integration of Electric Lightwave. The conference call can
be accessed by dialing 1-866-807-9684. A live webcast of the conference
call and associated presentation materials will be available on the
investor relations section of Zayo’s website at http://investors.zayo.com.
For more information, please visit zayo.com.
About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides communications
infrastructure services, including fiber and bandwidth connectivity,
colocation and cloud infrastructure to the world’s leading businesses.
Customers include wireless and wireline carriers, media and content
companies and finance, healthcare and other large enterprises. Zayo’s
vast network in North America and Europe includes extensive metro
connectivity to thousands of buildings and data centers. In addition to
high-capacity dark fiber, wavelength, Ethernet and other connectivity
solutions, Zayo offers colocation and cloud infrastructure in its
carrier-neutral data centers. Zayo provides clients with flexible,
customized solutions and self-service through Tranzact, an innovative
online platform for managing and purchasing bandwidth and services. For
more information, visit zayo.com.
Forward Looking Statements
This press release contains a number of forward-looking statements,
including, among others, references to our recently completed
acquisition of Electric Lightwave, our plans for integrating Electric
Lightwave into our existing business units, the favorable impact such
integration will have on the customers of each entity, the footprint of
our combined network and the impact of the integrated business on our
ability to generate new streams of customer revenue. Words, and
variations of words such as “believe,” “expect,” “plan,” “continue,”
“will,” “should,” and similar expressions are intended to identify our
forward-looking statements. No assurance can be given that future
results expressed or implied by the forward-looking statements will be
achieved and actual results may differ materially from those
contemplated by the forward-looking statements. These forward-looking
statements involve risks and uncertainties, many of which are beyond our
control, including, among others, our ability to successfully integrate
Electric Lightwave into our existing business units, our ability to
provide high-quality customer service to existing Electric Lightwave
customers such that they will continue to utilize our services following
the closing of the acquisition and that the combined network will lead
to anticipated synergies and benefits. For additional information on
these and other factors that could affect our forward-looking
statements, see our risk factors, as they may be amended from time to
time, set forth in our filings with the SEC, including our Annual Report
on Form 10-K for the fiscal year ended June 30, 2016 and our Quarterly
Reports on Forms 10-Q for the periods ended September 30, 2016 and
December 31, 2016. We disclaim and do not undertake any obligation to
update or revise any forward-looking statement in this press release,
except as required by applicable law or regulation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170301005902/en/
Zayo Group Contacts
Media:
Shannon Paulk,303-577-5897
Corporate
Communications
press@www.zayo.com
or
Investors:
Brad
Korch, 720-306-7556
Investor Relations
IR@www.zayo.com