ICT infrastructure provider Zayo Group has completed the acquisition of fiber network company Spread Networks for USD 127M. With this acquisition, Zayo aims to give a competitive advantage to businesses belonging to financial and trading industry by leveraging Speed’s low-latency networks.
Zayo say that a fast network speed could be a make-or-break deal for organizations in the finance, media and cloud industry since they are highly competitive in nature. They further added that by acquiring a low-latency provider like Spread Networks, organizations from these industries will find a strong tool to compete ahead.
Explaining this, Dan Caruso, Chairman and CEO at Zayo said:
We acquired Spread Networks because of their leadership in ultra low-latency network solutions for the financial and trading sectors. Spread Networks by Zayo will build on this flagship network, providing customers with additional fiber and microwave options for fast, high-bandwidth connectivity.
For customers in finance and other sectors, including content, media and cloud providers, millisecond improvements in network speed can provide a powerful competitive advantage.
According to Zayo, the acquisition will allow them to combine their routes with Spread Network’s routes to provide low-latency dark fiber and lit-based solutions, coast-to-coast. They further added that this will expand their network from Seattle to New York and from New York further till Asia.
In closing, Zayo said that Spread Networks will function as a separate business unit and will be rebranded as Spread Networks by Zayo.