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Zayo Group Announces Acquisition of AGL Networks Telecommunications Business
Mar 24, 2010 (05:03 PM EDT)
AGL Networks provides Fiber Services in Georgia, Arizona, and North Carolina
LOUISVILLE, Colo., March 24 /PRNewswire/ -- Zayo Group, LLC, a provider of Bandwidth Infrastructure and Network Neutral Colocation services, announced today that it has reached a definitive agreement to purchase AGL Networks.
Upon close of the transaction, Zayo will acquire 100% of the ownership interest of AGL Networks and thus take over ownership and operation of the existing network of more than 795 route miles and 182,000 fiber miles. AGL Networks provides Bandwidth Infrastructure services to customers primarily in Georgia, Arizona, and North Carolina.
"AGL Networks has amassed impressive regional fiber networks and a solid base of customers," stated Dan Caruso, President and CEO of Zayo Group. "Zayo Group will continue to support these customers while also offering them similar services on Zayo's existing network."
"The employees at AGL Networks have done a great job building a recurring revenue fiber services business," said Matt Erickson, Corporate Development and Strategy. "With the help of the AGL Networks team, Zayo will invest in continued expansion of AGL Network's fiber services product offerings."
The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in 60-120 days. The financial terms of the transaction were not disclosed.
About Zayo Group
Based in Louisville, Colo., Zayo Group (www.zayo.com) Zayo Group is a provider of Bandwidth Infrastructure and Network Neutral Colocation services. Zayo provides its services over a 20,000 route mile fiber network that spans 141 markets and 23 states. Zayo Group's equity is privately held.
About AGL Resources
AGL Resources (NYSE: AGL), an Atlanta-based energy services company, serves approximately 2.3 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout North America. As an 85-percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates Jefferson Island Storage & Hub, a high-deliverability natural gas storage facility near the Henry Hub in Louisiana. For more information, visit www.aglresources.com.
SOURCE Zayo Group