International bandwidth infrastructure services provider Zayo Group has acquired Paris-based bandwidth infrastructure company Neo Networks.
Through the acquisition Zayo has added 350 metro route miles in Paris and more than 500 on-net buildings to its network.
Neo operates nine colocation facilities across France which offers more than 36,000sq ft of data center space.
It’s Paris and regional network will be integrated into Zayo’s existing European network which connects London, Frankfurt, Amsterdam and the US.
Neo was founded in 2003 and currently operates Paris’ first fiber-optice Metropolitan Area Network (MAN), enabling businesses across France to connect to the capital’s international business hub.
Neo provides dark fiber, IP, Ethernet, wavelength and colo services to high-bandwidth companies in continental Europe, serving more than 600 carrier and enterprise customers, predominantly in the technology, media, telecom and finance sectors.
Zayo Group’s president and CEO Dan Caruso said the acquisition of Neo will enable Zayo’s growth through its combined fiber footprint.
“While we will bring a much expanded capability to the table, we also respect the importance of local relationships and expertise," Caruso said.
"The two principal founders of Neo, Didier Soucheyre and Florian du Boys, will stay with the combined companies and lead Zayo France, a new business unit focused on that market.”
The purchase price has not been disclosed but Zayo said it will be funded with cash on hand and is expected to close at the end of Q2 2014.