Zayo Completes Divestiture of Minnesota Local Exchange Carrier
BOULDER, Colo.--(BUSINESS WIRE)--Jul 31, 2018--Zayo Group Holdings, Inc. (NYSE: ZAYO) today announced that it has completed the sale of the Scott-Rice Telephone Co., a Minnesota ILEC (incumbent local exchange carrier), for $42 million to Nuvera (formerly New Ulm Telecom, Inc.).
Zayo acquired Scott-Rice Telephone as part of its March 2017 purchase of Electric Lightwave. Since the acquisition, it has been managed separately but within Zayo’s Allstream business segment. Scott-Rice Telephone serves residential and business customers in areas of Scott and Rice counties southwest of Minneapolis.
“The completion of this sale is an important step toward the separation of the Allstream assets,” said Matt Steinfort, Zayo’s CFO. “It better positions us to focus and execute on our core communications infrastructure business.”
About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides communications infrastructure solutions, including fiber and bandwidth connectivity, colocation and cloud infrastructure to the world’s leading businesses. Customers include wireless and wireline carriers, media and content companies and finance, healthcare and other large enterprises. Zayo’s 128,200-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. In addition to high-capacity dark fiber, wavelength, Ethernet and other connectivity solutions, Zayo offers colocation and cloud infrastructure in its carrier-neutral data centers. Zayo provides users with flexible, customized solutions and self-service through Tranzact, an innovative online platform for managing and purchasing bandwidth. For more information, visit zayo.com.
Forward Looking Statements
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CONTACT: Zayo Group Holdings, Inc.
Pat Nichols, 303-226-5955
Brad Korch, 720-306-7556
KEYWORD: UNITED STATES NORTH AMERICA COLORADO MINNESOTA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS TELECOMMUNICATIONS
SOURCE: Zayo Group Holdings, Inc.
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PUB: 07/31/2018 05:05 PM/DISC: 07/31/2018 05:05 PM