Zayo Group signed 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.
To drive the growth in Indiana’s communications infrastructure
“The combination of IFN and Zayo will enable significantly enhanced reach and value to their customers and our legacy owners. 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,” according to Jim Turner, chief executive officer, IFN.
Matt Steinfort, chief financial officer, Zayo, said,
“IFN brings to Zayo another unique and dense regional fiber network and a dedicated local team that excels in serving its customer base. 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.”
The transaction is expected to be closed during the second half of 2021, subject to customary regulatory approvals and closing conditions.