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Zayo - M&A Summary, Ownership, and Business Overview

CommunicationsCompany

Zayo M&A Summary

Zayo has acquired 38 companies of its own, including 4 in the last 5 years. A total of 10 acquisitions came from private equity firms. It has also divested 3 assets.

Zayo’s largest acquisition to date was in 2025, when it acquired Crown Castle - Fiber Solutions Business for $4.3B. Zayo has acquired in 17 different US states, and 5 countries. The Company’s most targeted sectors include communications (73%) and information technology (12%).

Zayo Ownership

Who owns Zayo?

Zayo is owned by Ardian, DigitalBridge Group and EQT. It was acquired on May 8, 2019.

Is Zayo PE-backed?

Yes. Zayo is owned by private equity investors Ardian, DigitalBridge Group and EQT.

Was Zayo formerly PE-backed?

Yes. Zayo was formerly owned by 5 private investors.

Zayo Business Overview

Where is Zayo headquartered?

Zayo is headquartered in Boulder, Colorado.

What is Zayo’s revenue?

Zayo disclosed revenue of 2,604M USD for 2018 and 2,200M USD for 2017.

How many employees does Zayo have?

Zayo has 3,700 employees.

What sector is Zayo in?

Zayo is a communications company.

When was Zayo founded?

Zayo was founded in 2007.

M&A Summary

  • M&A Total Activity39
    • M&A Buy Activity36
    • M&A Sell Activity3
  • Total Sectors Invested 5
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 13
  • M&A Advisors 10

Zayo

Zayo Group LLC

1805 29th Street, Suite 2050,
Boulder, Colorado 80301
United States,
(866) 364-6033
www.zayo.com

Zayo is a provider of bandwidth infrastructure and network neutral colocation and interconnection services. Zayo's services allow its customers, which include telecom carriers, wireless service providers, media and content companies, and other bandwidth-intensive businesses, to transport data, voice, video, and internet traffic, as well as to interconnect their networks. Zayo was founded in 2007 and is based in Boulder, Colorado.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.8/yr) # 32 1 2 - - 1 36
vol $5.5B $4.3B $9.8B
Sell (0.0/yr) # 3 - - - - - 3
  39
+3303636.53737.53838.5393535.539.5400

Most Recent M&A

Company Date Value Type
Crown Castle - Fiber Solutions Business 2025-03-13 4.3B USD Divestiture
Houston, Texas
Education Networks of America, Inc. 2022-03-03 - Add-on Acquisition
Nashville, Tennessee · www.ena.com
QOS Networks 2022-01-12 - Add-on Acquisition
Irvine, California · www.qosnet.com
Intelligent Fiber Network LLC 2021-03-09 - Add-on Acquisition
Indianapolis, Indiana · www.intelligentfiber.com
zColo Data Centers 2020-12-17 - Divestiture
Boulder, Colorado
Zayo Group Holdings, Inc. - zColo Data Center Assets 2020-09-29 - Divestiture
Boulder, Colorado
Neutral Path Communications LLC 2018-01-29 32M USD Add-on Acquisition
Mankato, Minnesota · www.neutralpath.net
Optic Zoo Networks Ltd. 2018-01-19 24M CAD Add-on Acquisition
Vancouver, British Columbia · www.opticzoo.com
Spread Networks LLC 2017-11-27 127M USD Add-on Acquisition
Ridgeland, Mississippi · www.spreadnetworks.com
Electric Lightwave, Inc. 2016-11-30 1.4B USD Add-on Acquisition
Vancouver, Washington · www.integratelecom.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Allstream, Inc. 2015-11-23 Scott-Rice Telephone Co. 2018-02-23 1
Winnipeg, Manitoba · www.allstream.com Prior Lake, Minnesota

M&A by Sector

Sector Buy # Value Sell # Value
Communications 26 (72%) 9.1B (93%) 1 (33%) -
Information Technology 4 (11%) 694M (7%) 2 (67%) -
Internet Software and Services 4 (11%) - - -
Diversified 1 (3%) - - -
Technology Hardware 1 (3%) - - -
Total 36 $9.8B 3 -

By Geo

State/Country Buy Value Sell Value
United States 29 9.3B 3 -
  Colorado 3 675M 2 -
  Washington 3 1.7B - -
  Texas 3 4.3B - -
  New York 3 2.3B - -
  Minnesota 2 32M 1 -
  Tennessee 2 - - -
  Indiana 2 - - -
  Illinois 2 - - -
  Virginia 1 117M - -
  Oklahoma 1 - - -
  Nevada 1 - - -
  Mississippi 1 127M - -
  Michigan 1 18M - -
  Maryland 1 - - -
  Kansas 1 - - -
  Georgia 1 - - -
  California 1 - - -
Canada 3 418M - -
  Saskatchewan 1 41M - -
  Manitoba 1 353M - -
  British Columbia 1 24M - -
United Kingdom 2 107M - -
France 1 - - -
Germany 1 - - -
Domestic 29 (81%) 9.3B (95%) 3 (100%) -
Cross-border 7 (19%) 525M (5%) - -
Total 36 $9.8B 3 -

Top M&A Advisors

Financial Deals
PJT Partners
 1
RBC Capital Markets
 1
UBS Investment Bank
 1
Legal Deals
Gibson, Dunn & Crutcher
 3
Borden Ladner Gervais (BLG)
 1
Morgan Lewis
 1

Deal Values

buy # Total
> $1B 3 $7.9B
$100M to $1B 6 $1.7B
< $100M 6 $224M
TOTAL $9.8B
Largest Crown Castle - Fiber Solutions Business
$4.3B (2025-03-13)

M&A Connections

Deals
Acquired from
Investor(s)
22%
8 (22%)
Strategic(s)
8%
3 (8%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

Company Summary

SECTOR

Communications

Revenue

2,604   19% 2018
2,200   28% 2017
1,722   28% 2016
1,347   20% 2015
1,123   12% 2014
1,004   2013
(millions of USD) Show More Show Less

Employees

3,700

Established

2007

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