Zayo edges revenue expectations, plans to close sale within next two months

BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) now plans to close its $14.3 billion sale to a group of private investment firms within the next several weeks.

The Boulder-based bandwidth infrastructure company announced the new target date alongside its earnings for the previous quarter. It now hopes to close that deal by late first quarter or early second quarter 2020, or in late March to early April, the company said in a prepared statement.

It previously said the deal would close in the first half of this year.

Zayo reported $653.7 million in revenue and 26 cents per share in the previous quarter, beating Wall Street expectations by $13.5 million and 11 cents per share, respectively, according to consensus estimate data compiled by Seeking Alpha.

Zayo is in the midst of selling itself to private venture firms Digital Colony Partners and EQT Infrastructure IV Fund in a deal announced last May. The move will remove it as a publicly traded company. The company was founded in 2007 and has an estimated 1,100 employees in Boulder and 3,700 overall.

The company said it would not hold an investor call or provide a more in-depth narrative of the quarter’s results.

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