Wednesday, December 12, 2007

Zayo to Acquire Citynet's Wholesale Division

Zayo Group, a regional provider of bandwidth and telecom services, agreed to acquire Tulsa, Oklahoma-based Citynet Fiber Network (CFN), the wholesale division of communications provider, Citynet. Terms of the agreement were not disclosed.

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 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.

The deal is the sixth acquisition by Zayo since May 2007. The acquisition is expected to close in the first quarter of 2008.

"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.