Also closing a purchased announced in 2014 this morning is Zayo, which has now finished off the IdeaTek acquisition they announced just last month. The purchase price was given as $52M, and was paid from existing cash.
Zayo is always very quick about integrating the data, and they already have IdeaTek’s assets on their own network map – in some detail. To the left are a few snapshots of those Kansas assets, which include a deep metro network in Wichita and a set of regional dark fiber spurs off the intercity fiber crossing the state from east to west. Zayo is also building a new north-south route through the eastern part of the state.
After nearly eight years, dozens of acquisitions, and an IPO, it’s more than a little bit surprising that Zayo is still finding juicy fiber targets that look a lot like the ones they started out with. Of course, they’re paying a bit more for them at today’s multiples.
There are probably still others like this one that Zayo could do in the US, but when it comes to further M&A I still think their main strategic focus is over in Europe. We’ll see them make a bigger move over there sooner or later this year.
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