Zayo Bandwidth raises $225M for fiber-based networks

August 30, 2007 | Matt Marshall

Zayo Bandwidth, a Louisville, Colo. regional provider of fiber-based network services, has raised a whopping $225 million in private equity funding.

See the story in Rocky Mountain News.

It has quietly snatched up four fiber-optic networks in the eastern U.S. in recent months, the story says.

Lead investors in Zayo are Oak Investment Partners, Columbia Capital and M/C Venture Partners. Other investors are Colorado-based Centennial Ventures and Battery Ventures. The holding company is called Communications Infrastructure Investments LLC.

It is run by former ICG Communications and Level 3 Communications executives Dan Caruso and John Scarano.

Among the companies acquired: PPL Telcom, a 4,600 fiber-route-mile network serving areas throughout the Northeast, and Memphis Networx, a 200 fiber-route-mile network serving the greater Memphis area. It also today announced agreements to acquire both Indiana Fiber Works of Indianapolis and Onvoy Inc. of Minneapolis. They give Zayo $125 million in annual revenue and 8,400 route miles of fiber.

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Tags: deal

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.