Zayo Group, LLC and AboveNet, Inc. (NYSE: ABVT) announce that their boards of directors have approved a definitive agreement under which Zayo will acquire AboveNet for approximately $2.2 billion. As part of the transaction, GTCR, a leading Chicago-based private equity firm, will make an equity investment in Zayo.
As AboveNet and Zayo’s business models are closely aligned with a focus on high bandwidth fiber-based communications services for enterprises, government and carrier customers, the combination will create value for customers, employees and investors. The transaction, subject to customary approvals, is expected to close in mid 2012.
For more information on Zayo Group, visit www.zayo.com.
