Zayo Group To Acquire High Bandwidth Connectivity Company AboveNet For $2.2 Billion

Zayo Group, a company that provides fiber-based bandwidth, voice, and managed services to carrier, enterprise, SME, and government customers, has acquired fellow bandwidth connectivity company AboveNet for approximately $2.2 billion, or $84.00 per share in cash (a 13% premium over AboveNet?s closing price on March 16). As part of the transaction, GTCR, a leading Chicago-based private equity firm, will make an equity investment in Zayo. AboveNet, which traded on the New York Stock Exchange, provides high bandwidth connectivity for large corporate enterprises and communications carriers. Its private optical network delivers network and IP services in and among the U.S. and internationally AboveNet?s network is widely used in demanding markets such as financial services, media, health care, retail and government.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/5NIZVHeiTuI/

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