Zayo to buy Electric Lightwave for $1.42B

|About: Zayo Group (ZAYO)|By:, SA News Editor

Zayo (NYSE:ZAYO) agrees to acquire smaller rival Electric Lightwave for $1.42B in cash to expand its telecom infrastructure network along the U.S. west coast.

Electric Lightwave has 8K route miles of long haul fiber and 4K miles of dense metro fiber in San Francisco, San Jose, Seattle and several other major western U.S. cities.

Zayo expects to realize more than $40M in annual cost synergies throughout the integration process, and will benefit from more than $400M in net operating loss carryforwards acquired in the deal.