Zayo Buying Electric Lightwave for $1.42 Billion
Zayo agreed to pay $1.42 billion cash for Electric Lightwave, the company formerly known as Integra Telecom, the acquirer said in a news release Wednesday. Electric Lightwave has 8,100 route miles of long-haul fiber and 4,000 miles of dense metropolitan…
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fiber in western states. “Electric Lightwave has both strong metro fiber assets in key West Coast markets and capacity and routes that will augment Zayo’s intercity footprint,” Zayo CEO Dan Caruso said. Zayo expects to close the deal in Q1, subject to customary regulatory approvals, it said. Raymond James analysts predicted Zayo will combine Electric Lightwave’s CLEC voice business with recently acquired Allstream assets. “Longer term, we continue to believe Zayo will explore a full separation of the non-core Allstream and now Integra business lines,” the analysts said. “The longer-term value will be in the amount of revenue Zayo can layer onto the fiber assets in conjunction with its other assets and customers in the rest of its business.”