Thursday, July 5, 2012

Zayo Closes AboveNet Buy

Louisville, Colorado-based Zayo reported this week that it has closed its $2.2 billion acquisition of New York-based AboveNet. Zayo is paying $84.00 per share in cash for AboveNet, which is based in New York. AboveNet is a provider of a private optical network and other high bandwidth connectivity, all of which will go to bolster Zayo's bandwidth infrastrcuture. Zayo said AboveNet's customers are in the financial and legal services, media, health care, retail and government markets.