Note: RBC Daniels acted as financial advisor to Indiana Fiber Works in this transaction.
IFW has a robust, largely self-constructed fiber network that connects 21 of Indiana’s top 25 cities (by population) including major markets such as Indianapolis, Gary, Ft. Wayneand South Bend with an additional connection to Cincinnati, OH. In total, the network has more than 2,200 route miles of fiber and 180 on-net buildings. It runs through 10 of the 13 major technology parks in the state and is less than one quarter of a mile away from hundreds of central offices and cellular sites. The network also connects to or is in very close proximity to a majority of universities throughout the state.
Zayo will leverage the network to provide transport services to enterprise, government and wholesale entities that have significant and growing demands for bandwidth. “IFW has a deep fiber network and has recently started delivering bandwidth services throughout its territory,” said Dan Caruso, CEO of Zayo Bandwidth. “We will continue to leverage IFW’s fiber assets to serve customers with fiber based bandwidth needs and dark fiber needs throughout the state of Indiana.”
Zayo Bandwidth, a wholly owned subsidiary of Communications Infrastructure Investments, LLC, was formed in December 2006. Five major investors-each with deep telecommunications experience—have funded the venture. In addition to IFW, Zayo Bandwidth recently completed two acquisitions: 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 has also signed a definitive agreement to acquire Minneapolis, Minn.-based Onvoy, Inc. which is expected to be finalized in the fourth quarter of 2007. Combined, the four companies represent $125 million of annual revenue and 8,400 route miles of fiber. The company’s aspiration is to offer highly reliable and responsive bandwidth services to carriers, enterprises and other bandwidth intensive entities in geographies where it owns fiber networks.
About 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. www.zayo.com.
Contact:
Guy Murrel
Catapult PR-IR - for Zayo Bandwidth
303-581-7760, ext. 17
303-808-7793 (mobile)
gmurrel@catapultpr-ir.com
Zayo Bandwidth Acquires Indiana Fiber Works
LOUISVILLE, Colo., Oct. 2, 2007 - Zayo Bandwidth, a regional provider of fiber-based network services, today announced that it has acquired Indiana Fiber Works (IFW). Terms of the agreement were not disclosed.IFW has a robust, largely self-constructed fiber network that connects 21 of Indiana’s top 25 cities (by population) including major markets such as Indianapolis, Gary, Ft. Wayneand South Bend with an additional connection to Cincinnati, OH. In total, the network has more than 2,200 route miles of fiber and 180 on-net buildings. It runs through 10 of the 13 major technology parks in the state and is less than one quarter of a mile away from hundreds of central offices and cellular sites. The network also connects to or is in very close proximity to a majority of universities throughout the state.
Zayo will leverage the network to provide transport services to enterprise, government and wholesale entities that have significant and growing demands for bandwidth. “IFW has a deep fiber network and has recently started delivering bandwidth services throughout its territory,” said Dan Caruso, CEO of Zayo Bandwidth. “We will continue to leverage IFW’s fiber assets to serve customers with fiber based bandwidth needs and dark fiber needs throughout the state of Indiana.”
Zayo Bandwidth, a wholly owned subsidiary of Communications Infrastructure Investments, LLC, was formed in December 2006. Five major investors-each with deep telecommunications experience—have funded the venture. In addition to IFW, Zayo Bandwidth recently completed two acquisitions: 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 has also signed a definitive agreement to acquire Minneapolis, Minn.-based Onvoy, Inc. which is expected to be finalized in the fourth quarter of 2007. Combined, the four companies represent $125 million of annual revenue and 8,400 route miles of fiber. The company’s aspiration is to offer highly reliable and responsive bandwidth services to carriers, enterprises and other bandwidth intensive entities in geographies where it owns fiber networks.
About 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. www.zayo.com.
Contact:
Guy Murrel
Catapult PR-IR - for Zayo Bandwidth
303-581-7760, ext. 17
303-808-7793 (mobile)
gmurrel@catapultpr-ir.com