Data center and connectivity services provider Zayo has closed its acquisition of the competitor 360networks. The companies initially announced the acquisition agreement in October.

The company was able to close the deal due in part to a successful funding round which resulted in an extra US$315m in the company’s coffers. Zayo said it would use the funds to complete the $345m acquisition.

The loan was split among 25 institutional investors. Zayo CFO Ken desGarennes said these included both existing and new companies. "We are pleased with the response we received to this debt offering and the continued ability to access capital in support of our business growth," he said.

The acquisition of 360networks brought Zayo’s network footprint to 44,000 route miles and about 2m fiber miles. The resulting network interconnects 73 markets in central and western US.

The deal also gave Zayo presence in geographical markets it had not been playing in before: Albuquerque, Bismarck, Des Moines, San Diego, San Francisco and Tucson.

The combined company is expected to generate about $393m in revenue annually.

Zayo’s billable colocation space totals about 70,000 sq ft.