Zayo announced on May 2 the completion of its acquisition of Crown Castle’s Fiber Solutions business, adding approximately 90,000 metro-dense route miles to its North American network. The deal significantly expands Zayo’s reach across key United States markets as demand for artificial intelligence and cloud infrastructure grows.
The transaction is seen as an important step in scaling digital infrastructure to meet increasing connectivity needs driven by AI and enterprise applications. The addition brings about 40,000 on-net enterprise locations to Zayo’s network, offering existing customers more access and capacity while enabling new customers greater entry into data centers and cloud platforms where bandwidth demand is rising.
Steve M. Smith, CEO of Zayo, said, “As AI is increasingly embedded in the global economy-bringing with it unprecedented connectivity needs-high-capacity fiber infrastructure has become indispensable. Zayo has been exclusively focused on building and operating fiber networks at scale for decades. That is why we are built for this moment and the right company to unlock the full value of these assets. This acquisition expands our ability to deliver capacity where it matters most and strengthens the critical fiber infrastructure powering today’s AI, cloud, and enterprise ecosystems. By combining Zayo’s national scale and the expanded metro depth of these assets, we are building a differentiated platform that positions Zayo as the partner of choice for high-capacity connectivity.”
Jeff Noto, Chief Financial Officer of Zayo, said: “We see long-term tailwinds driving demand for fiber infrastructure, and that continues to inform how we invest in our business. We are focused on deploying capital with discipline to capture the most attractive growth opportunities ahead. This acquisition solidifies our digital infrastructure leadership, enabling us to drive greater value across our network and generate durable, long-term growth from the industries shaping the digital economy.”
The acquisition marks Zayo’s fiftieth—and largest—transaction so far. With this addition, its network now spans 224,000 route miles across North America following over $35 billion in investments made by Zayo toward developing high-performing fiber networks.
In connection with this transaction EQT Active Core Infrastructure fund completed a separate purchase of Crown Castle’s Small Cells business (Arium Networks), while PJT Partners, J.P. Morgan and UBS Investment Bank served as financial advisors; Simpson Thacher & Bartlett acted as legal advisor.