Zayo Group Holdings, Inc. today announced it has entered into a definitive agreement to acquire Intelligent Fiber Network (IFN).
IFN, which provides fiber-based connectivity solutions to over 400 customers, operates a 5,000 route-mile network across multiple markets in Indiana, including Indianapolis, Fort Wayne, Columbus, Terre Haute and South Bend.
“IFN brings to Zayo another unique and dense regional fiber network and a dedicated local team that excels in serving its customer base,” said Matt Steinfort, chief financial officer, Zayo. “This team, the additional network assets and the nearly 1,000 incremental on-net buildings will aid our efforts to accelerate growth as we look to capitalize on the enterprise opportunity within our network reach.”
Zayo expects to close the transaction during the second half of 2021, subject to customary regulatory approvals and closing conditions.
“The combination of IFN and Zayo will enable significantly enhanced reach and value to our customers and our legacy owners,” said Jim Turner, chief executive officer, IFN. “Together, the combined companies will help drive investment and growth in Indiana’s communications infrastructure and advance the ubiquity of high speed connectivity throughout the state.”
Skadden Arps is serving as legal counsel to Zayo in connection with the transaction. Houlihan Lokey and Stifel are acting as financial advisors to IFN, and Dentons Bingham Greenebaum is serving as its legal advisor.
Zayo’s 126,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. The firm serves wireless and wireline carriers, media, tech, content, finance, healthcare and other large enterprises.
Zayo's communications infrastructure solutions include dark fiber, private data networks, wavelengths, Ethernet, dedicated internet access and data center connectivity platforms. For more information, visit www.zayo.com.