Zayo Group acquires Latisys for $675M

By: InnovatioNews Thursday January 15, 2015 0 comments Tags: Boulder, Dan Caruso, IdeaTek Systems, Latisys, Pete Stevenson, Zayo Group, Zayo Group Holdings, zColo


Zayo Group logoBOULDER - Zayo Group LLC, a subsidiary of Zayo Group Holdings Inc. (NYSE: ZAYO) and an international provider of bandwidth infrastructure services, announced it is acquiring the operating assets of Latisys Holdings LLC, a co-location and infrastructure-as-a-service (IaaS) provider, for $675 million .

The acquisition will expand Zayo's data center portfolio to 45 facilities in the U.S., France and United Kingdom.

Englewood-based Latisys was founded in 2007 and serves approximately 1,100 predominantly medium-to-large enterprise customers with large storage, computing and data connectivity needs.

The acquisition will allow Zayo to sell fiber and bandwidth services to Latisys' core set of enterprise customers and to market new co-location and IaaS services to Zayo's base of carrier and content customers, Zayo said.

"Both Latisys and Zayo's zColo business have a great track record of creating value for investors and customers," said Dan Caruso, Zayo's chairman and CEO.

"The addition of Latisys into Zayo strengthens Zayo's portfolio of infrastructure services."

"It is an exciting day for our customers and employees to become part of a fast-growing company at the forefront of delivering unified infrastructure services to today's dynamic market," said Pete Stevenson, Latisys CEO.

"By integrating our state-of-the-art platform, coupled with efficient processes and great people, the combined entity will offer a highly compelling value proposition."

Last week, Zayo Group announced it had closed on a previously announced acquisition of the carrier and enterprise segment of Kansas-based IdeaTek Systems Inc. for $52 million.

The IdeaTek acquisition added 1,800 route-miles to Zayo's network in Kansas, including Wichita.

About the Author: InnovatioNews

InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.