Zayo Group
| Company type | Private |
|---|---|
| Industry | Communications infrastructure |
| Founded | 2007 |
| Founder | Dan Caruso, John Scarano, Matt Erickson |
| Fate | Went public in 2014; taken private in 2020 by EQT AB and Digital Colony Partners |
| Headquarters | Denver , United States |
Area served | North America and Europe |
Key people | Kevin Turner (Chairman), Steve Smith (CEO), Jeff Noto (CFO), Andres Irlando (President), Nikos Katinakis (CTO) |
| Products | Fiber and bandwidth connectivity, colocation, cloud infrastructure services, dark fiber, wavelengths, SONET, Ethernet, SD-WAN, IP connectivity, wireless backhaul, small cell technology |
| Owner | EQT AB and Digital Colony Partners |
Number of employees | 3,781 (2019) |
Zayo Group Holdings, Inc. (commonly known as Zayo Group) operates as a privately owned communications infrastructure provider headquartered in Denver, Colorado, with its European base located in London. The company specializes in delivering fiber and bandwidth connectivity, colocation, and cloud infrastructure services. Its primary clientele comprises wireless and national carriers, internet service providers (ISPs), enterprises, and governmental organizations.
Established in 2007 by entrepreneurs Dan Caruso, John Scarano, and Matt Erickson, Zayo experienced swift growth through a series of acquisitions, integrating more than thirty firms—including AboveNet and 360networks—between 2007 and 2014. The company went public in 2014 with an initial public offering that generated $600 million. Subsequently, in 2020, investment groups EQT AB and Digital Colony Partners took Zayo private in a $14.3 billion transaction.
The leadership team features Chairman Kevin Turner, CEO Steve Smith, CFO Jeff Noto, President Andres Irlando, and CTO Nikos Katinakis. In the fiscal year 2019, Zayo reported revenues of $2.58 billion alongside an operating income of $520 million and net earnings of $150 million. At that time, the workforce numbered 3,781 employees with total assets valued at $9.33 billion.
Zayo’s operational strategy revolves around providing scalable connectivity solutions to a broad spectrum of customers across its international footprint. The company’s executive management has prioritized expanding its market presence through acquisitions and continuous investment in fiber infrastructure to sustain a competitive edge within the communications sector.
Founding and acquisition history
Zayo was incorporated as a Delaware corporation in 2007 by Dan Caruso, John Scarano, and Matt Erickson. Initial acquisitions during that founding year included Memphis Networx, VoicePipe, Onvoy Inc., PPL Telcom, and Indiana Fiber Works, laying the groundwork for its fiber-optic network expansion.
From 2008 through 2010, Zayo accelerated its growth by acquiring Columbia Fiber Solution; assets from Adesta Communications; Citynet fiber assets; Northwest Telephone fiber assets; CenturyTel Regional Markets; FiberNet Telcom Group; AGL Networks; American Fiber Systems; and Dolphini’s Cummins Station data center. These transactions significantly broadened Zayo’s network capabilities and data center footprint.
In 2011, the company strengthened its presence by purchasing MarquisNet’s Las Vegas data center operations along with 360networks’ fiber assets. The following year saw acquisitions including AboveNet for $2.2 billion, FiberGate, Arialink, US Carrier Telecom, First Telecom Services, and Litecast/Balticore—further expanding both fiber coverage and service portfolios.
Growth continued into 2013 with the procurement of Core NAP (an Austin-based data center operator), Access Communications, Midwest dark fiber provider FiberLink, and Corelink Data Centers. In 2014, Zayo added Dallas-based CoreXchange data centers as well as French network operator Neo Telecoms SAS and UK-based Geo Networks to enhance its global reach.
Between 2015 and 2016, acquisitions comprised Latisys, IdeaTek Systems, Viatel, a Dallas data center from Stream Data Centers, Clearview International, and Allstream—a Canadian inter-exchange carrier originating from CNCP Telecommunications heritage. By mid-2016, the company had completed a total of 39 acquisitions.
On November 30, 2016, Zayo declared the $1.42 billion cash purchase of Electric Lightwave to bolster its fiber network along the U.S. West Coast. In November 2017, it acquired Spread Networks’ 825-mile fiber route connecting New York and Chicago. Early in January 2018 came the acquisition of Optic Zoo Networks based in Vancouver to expand Canadian operations.
In May 2019, Zayo agreed to be acquired by EQT AB and Digital Colony for $14.3 billion; this transaction was finalized in March 2020 resulting in the company’s transition back to private ownership.
January 2022 saw Zayo acquire QOS Networks from majority stakeholder M/C Partners. Later in November 2023, it announced plans to purchase Stuttgart-based Globalways GmbH aimed at reinforcing its presence within the European market.
Recent leadership developments include the appointment of telecommunications veteran Nikos Katinakis as Chief Technology Officer in February 2024. In March 2024, Zayo entered into a partnership with Netskope—a developer specializing in Secure Access Service Edge (SASE) solutions—to enhance its Managed Edge offerings.
Looking forward, on March 13, 2025, Zayo revealed intentions to acquire Crown Castle’s fiber solutions division for $4.25 billion—a move anticipated to substantially increase network capacity and strengthen its competitive standing within the fiber infrastructure industry.
Onvoy divestiture
On June 13, 2014, Zayo Group Holdings completed the separation of Onvoy. Just a few days later, on June 16, 2014, Onvoy LLC acquired Vitelity, a voice over IP provider based in Denver. Subsequently, on September 3, 2015, Onvoy broadened its telecommunications services by purchasing Broadvox Communications, a competitive local exchange carrier focused on VoIP solutions.
Network and offerings
Zayo manages an extensive fiber network that spans over 130,000 route miles throughout North America and Europe. The company operates a Tier 1 IP network characterized by settlement-free peering arrangements with all other Tier 1 providers. Its portfolio of products and services encompasses dark fiber, wavelengths, SONET, Ethernet, SD-WAN, IP connectivity, colocation facilities, wireless backhaul, and small cell technology.