Monday, August 27, 2007
Zayo Bandwidth Purchases PPL Telcom for $60M
Zayo Bandwidth Inc., a fiber optics-based bandwidth provider to carriers, Web-oriented companies, governments and private enterprises, has purchased PPL Telcom, a subsidiary of PPL Corp., for $60 million, PPL Corp. reported Friday. PPL Corp. noted that the sale price includes some $10 million of debt, adding that it realized approximately $47 million in net proceeds from the transaction. PPL Telcom provides broadband Internet access to telecommunications companies, large businesses and wireless and Internet service providers. Headquartered in Louisville, Colorado, Zayo Bandwidth is a wholly owned subsidiary of Communications Infrastructure Investments LLC. Within the past two months, Zayo has also acquired Memphis Networx and Indiana Fiber Works.