Zayo to be Acquired by Digital Colony and EQT

 
  • Digital Colony
  • Zayo Group

BOULDER, CO — Zayo Group Holdings, which provides bandwidth to businesses, announced that it has signed a definitive merger agreement to be acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund. The transaction would result in Zayo transitioning from a public company to a private company. Under the new ownership, the Zayo team would continue to execute the Company’s strategy and remain headquartered in Boulder, Colorado.

Under the terms of the agreement, which was unanimously approved by Zayo’s board of directors, shareholders will receive $35.00 in cash per share of Zayo's common stock in a transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt obligations. The offer price represents a 32 percent premium to the volume-weighted price average of the last six months of $26.44. The deal is expected to close in the first half of calendar 2020.

“Digital Colony and EQT share our vision that Zayo’s Fiber Fuels Global Innovation, said Dan Caruso, Zayo’s chairman and CEO. "Both are experienced global investors in the communications infrastructure space, and they appreciate our extraordinary fiber infrastructure assets, our highly talented team and our strong customer base. I am confident this partnership with EQT and Digital Colony will empower Zayo to accelerate its growth and strengthen its industry leadership.”

 

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