Zayo
Bandwidth, a regional provider of high bandwidth services, today announced
it has finalized its acquisition of Minneapolis, Minn.-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 (MSA's) in Minnesota (Duluth, Moorhead,
Grand Forks, Minneapolis/St Paul, Rochester, St. Cloud) representing
approximately 350 communities with a 1,400-mile fiber network (more than 50
on-net buildings) running throughout the state. 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.
Five major investors -- each with deep telecommunications experience --
have funded Zayo. 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,
Penn. serving areas throughout the Northeast; and Memphis Networx, a 200
fiber-route-mile network serving the greater Memphis, Tenn. area.
Zayo Bandwidth
Based in Louisville, Colo., Zayo Bandwidth utilizes its regional fiber
networks to provide bandwidth services to carriers, enterprises, state and
government agencies and other bandwidth intensive organizations. Zayo
Bandwidth's service offerings include private line, Ethernet, wavelength,
Internet and colocation services. Zayo Bandwidth is backed by Columbia
Capital, M/C Venture Partners, Oak Investment Partners, Battery Ventures
and Centennial Ventures.
Source:Zayo Bandwidth
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