Zayo snaps up 360networks

Tech Finance reports.

Financial terms of the deal were not disclosed. 360networks' wholesale voice over Internet protocol (VOIP) business will become part of Onvoy Voice Services, which Zayo previously spun off as a separate entity.

These services are expected to increase Onvoy's coverage and scalability as a national voice service provider.

CRN says plans for the merger were unveiled in early October. The VOIP deal is the largest and most recent in a string of 17 acquisitions made by Zayo since 2007.

Zayo group president and CEO Dan Caruso says: "Given both companies' focus on simple bandwidth infrastructure services, we anticipate a rapid and smooth integration of the businesses."

Channel Partners states the acquisition adds 360networks' 18 500 route miles of metro and intercity fibre to Zayo's network, interconnecting 73 markets across the central and western US. 360networks operates metro fibre networks across 25 markets.