In its second European acquisition in the past month, Zayo has bought itself some more fiber. This time it's an asset that has been for sale for a while, and which they always seemed to be the right buyer for: Geo Networks.
Geo offers dark fiber and conduit throughout the island of Britain with a foothold over in Dublin. Their network spans 2,100 route miles hooking up 587 buildings including 100 route miles through the London sewer system.
It will complement Zayo's extensive London metro fiber network quite nicely, giving Zayo fiber access to and within the other major metro areas in the British Isles. They will go about adding more lit services from here no doubt, as well as building out more fiber as usual.
Last month Zayo agreed to buy Neo Telecoms, giving it a Paris metro footprint plus a regional network with data centers sprinkled around France. Next up, I'd have to be looking at Amsterdam and Frankfurt.
Financial terms were not disclosed, so we can't be sure of the valuation Geo managed to get. However, we'll surely hear more about that in July if not in an SEC filing sooner.
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