Zayo Wraps Up Acquisition of 360networks

Plans for the merger were unveiled in early October. The deal is the largest and most recent in a string of 17 acquisitions made by Louisville, Colo.-based Zayo Group since 2007.

Although terms of the deal were not initially made public, according to the SEC filing, Zayo paid $345 million for 360networks.

The combined company now has a network totaling more than 44,000 route miles and almost two million fiber miles. Zayo estimates annual pro forma revenues of $393 million, the company said in a statement.

"The combination of the two companies' operations provides us with a platform to greatly expand our market and service coverage," Zayo Group President and CEO Dan Caruso said in a statement. "Given both companies' focus on simple, Bandwidth Infrastructure services, we anticipate a rapid and smooth integration of the businesses."

360networks’ wholesale VoIP operations will be spun off into a separate entity, OnVoy Voice Services, which Zayo -- also previously a VoIP provider -- established in order to focus solely on its network infrastructure.