BOULDER – Bandwidth infrastructure provider Zayo Group LLC’s acquisition of London-based Geo Networks Ltd., last week has proven to be one of Zayo’s largest-ever at nearly $300 million.
A Form 8-K filed by the company with the Securities and Exchange Commission on Thursday stated the purchase price at approximately 175 million British pounds. That puts the deal at about $293.5 million based on the currency conversion rate listed on foreign exchange trading website Oanda.com for May 16, the day the Geo sale closed.
Zayo announced the deal last week, but didn’t initially disclose the purchase price.
Of the rapidly growing Boulder-based company’s 31 acquisitions over the past seven years, the Geo Networks deal is the third-largest based on purchase price. Zayo paid $2.2 billion for AboveNet in 2012. Its $332.2 million deal for 360networks in 2011 is the only other acquisition that has been larger.
Zayo acquired Paris-based Neo Telecoms last month for an undisclosed sum, though that deal is not expected to close until the end of the second quarter.
The Geo deal was funded with cash on hand and funds from Zayo’s revolving credit facility.
The Geo acquisition adds 2,100 route miles of fiber to Zayo’s European network and connectivity to 587 on-net buildings.