US-based network connectivity and data center services provider Zayo Group has completed its acquisition of AboveNet, which provides a similar portfolio of services, and announced an additional US$3.34bn in equity and debt financing.

The US$2.2bn acquisition, originally announced in March, adds more than 2.3m miles of fiber-optic network in the US and Europe. The combined company has annual revenue of $925m, Zayo said.

Zayo plans to integrate AboveNet’s network with its own, which will result in a combined network that will span more than 61,000 route miles with 4.6m miles of fiber and connect about 9,000 buildings, including a number of major data centers, telco hubs, cell towers and enterprise buildings.

Dan Caruso, Zayo president and CEO, said the addition of AboveNet’s assets and employees positioned Zayo well to become a major provider of “bandwidth infrastructure solutions” to some of the largest customers in the US.

“With transatlantic capacity, a deep London metro network and access to major cities in Europe, we can begin to address customers’ needs in key international markets as well,” he added.

The acquisition also expands Zayo’s colocation data center offering, adding Boston, Philadelphia, Washington, D.C., Baltimore, Dallas and Seattle to the list of locations where zColo (Zayo’s colocation subsidiary) offers data center space. zColo will become a colocation provider with 20 data centers around the US.

In addition to network integration, Zayo’s plan for folding AboveNet into its own operatiosn included creation of a single set of processes and IT systems. The company said this new organization has been implemented as of the day of the acquisition’s close.

The company has started interconnecting the two networks, expecting to complete most of the work in three months.