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Zayo Group has put the wraps on yet another acquisition.
First Telecom Services (FTS), a provider of bandwidth-infrastructure services throughout the Northeast and Midwest, is now a part of Louisville, Colo.-based Zayo. Zayo paid $110 million in cash for FTS from parent company First Communications, which remains an independent CLEC, primarily serving the small-to-medium enterprise market.
FTS manages a network of more than 8,000 miles of fiber and approximately 500 on-net buildings. It is focused on providing dark fiber and wavelength services across its 11-state footprint, with the highest concentration of network and revenue in Pennsylvania and Ohio. FTS’ customers are primarily other telecommunications carriers. FTS also has a strong network and commercial relationship with FirstEnergy Corp., which is one of the largest diversified electric companies in the U.S, Zayo said.
The acquisition brings new fiber routes to a broader footprint and provides Zayo with ownership of fiber routes it had previously operated via long-term indefeasible right-of-usage agreements.
“FTS strengthens Zayo’s business both from a revenue and asset perspective,” says Dan Caruso, president and CEO of Zayo Group. “In addition to important new customer relationships with First Communications and FirstEnergy, the acquisition provides new network reach that will further strengthen our ability to build end-to-end solutions for our customers in the northeastern United States.”
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