Zayo Group has executed a definitive agreement to purchase First Telecom Services, LLC (“First Telecom Services” or “FTS”), a provider of Bandwidth Infrastructure services throughout the northeastern and midwestern United States, for a price of $110 million.
First Telecom Services manages a network of over 8,000 route miles of fiber and approximately 500 on-net buildings. It is focused on providing dark fiber and wavelength services across its 11 state footprint, with the highest concentration of network and revenue in Pennsylvania and Ohio. FTS’ customers are primarily other telecommunications carriers who leverage this unique footprint.
The transaction, subject to customary approvals, is expected to close by year-end and will be funded from cash on hand. The Bank Street Group, LLC served as exclusive financial advisor to First Telecom Services in connection with this transaction.
For more information on Zayo, visit www.zayo.com.
