Spread Networks to be acquired by Zayo

Zayo Group Holdings, Inc. (NYSE: ZAYO) has announced it has entered into a definitive agreement to acquire Spread Networks for USD 127 million in cash, the company said.

Spread Networks is a privately owned telecommunications provider that owns and operates a 825-mile, high-fiber count long haul route connecting New York and Chicago.

The all-cash transaction is expected to be funded with cash on hand and debt and is expected to close in the first calendar quarter of 2018, subject to customary closing conditions.

Zayo Group Holdings provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure, to the world´s businesses. Customers include wireless and wireline carriers, media and content companies and finance, healthcare and other large enterprises. Zayo´s 126,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. For more information, visit zayo.com.