The Zayo Group, which operates a large global high-capacity metro and long-haul fibre optic network, has today begun the process of carving out two independent entities from their business. One will consist of Zayo’s European business, while the other will encompass its business that manages customers’ global network needs (outside of their core North American and European networks).
The operator states that their goal is to “provide flexibility to capitalize on unique growth opportunities, simplify operations, and align strategic and business objectives to drive long-term value for Zayo, its customers, and the newly independent entities.” According to the group, Zayo Europe will be “better positioned” – as a standalone business – to “achieve growth objectives” across the Western European markets in which it operates.
NOTE: Zayo’s global network is currently said to span over 17.5 million fibre miles and 144,000 route miles. The network currently also helps to connect 1,600 on-net data centres.
Under the change, Zayo Europe will now be headed up by newly-appointed CEO, Colman Deegan, and will maintain their key employee hubs in London, Paris, Stuttgart, and Sofia. Following the separation, Zayo Europe will also have a new board of directors, including Jens Schulte-Bockum as chairman of the board (he’s the former CEO of Vodafone Germany and Group COO of MTN Group).
Both Zayo and Zayo Europe will remain under the same ownership group and offer network services globally through formal contracts.
Steve Smith, CEO at Zayo, said:
“The transition of our European business into an independent entity marks a pivotal moment in Zayo Group’s strategic journey as we look to maximize our potential across the continent. Under the experienced leadership of Colman Deegan, our shared owners will continue to invest in Zayo Europe and position the organization for accelerated growth and momentum in the European market.”
The plan is to complete these separations, with full legal separation anticipated in the second half of 2024.
