Zayo Group to acquire Electric Lightwave for $1.42 billion

BOULDER — Broadband infrastructure provider Zayo Group Holdings Inc. (NYSE: ZAYO) announced Wednesday morning that it has reached a deal to acquire Vancouver, Wash.-based Electric Lightwave for $1.42 billion in cash.

Electric Lightwave, formerly known as Integra Telecom, operates mostly in the western United States.

The acquisition would give Boulder-based Zayo an additional 8,100 route miles of long-haul fiber optic cable and 4,000 miles of metro fiber in cities like Portland, Ore.; Seattle; Sacramento; San Francisco; San Jose; Salt Lake City; and Spokane.

Zayo officials also expect the merger to provide the two companies more than $40 million in annual cost savings.

The deal is…