Wednesday, February 28, 2018

Zayo Completes Buy Of Spread Networks

Boulder-based bandwidth provider Zayo Group Holdings said late Wednesday that it has completed its acquisition of Spread Networks. The deal was worth $127M in cash. According to Zayo, it expects to reach $10.5 million in annualized EBITDA from the Spread acquisition by the September 30th. Spread Networks provides a low latency fiber route between Chicago and New York. As a result of the acquisition, Zayo said it is creating a new, standalone business unit for the business, which will be called Spread Networks by Zayo.