360 Networks Sells US Operations To Zayo Group

360networks Corporation completed the sale of its US telecommunications assets and operations to Zayo Group, LLC. The sale price was US$345,000,000.

Originally established in 1998, 360networks sold its Canadian and northern US telecommunications assets and operations to Bell Canada in 2004, retaining a network across the western half of the United States. The sale completes the dispositon of 360networks' operating assets.

Zayo Group is a provider of fiber-based Bandwidth Infrastructure and network-neutral colocation and intercon-nection services.

The company serves wireline and wireless carriers, data centers, Internet content and services companies, high bandwidth enterprises as well as federal, state and local government agencies.

Zayo's network assets include 44,000 route miles, covering 39 states plus Washington DC. Additionally, Zayo has 4,500 buildings on-net, 450 Points-of-Presence (POPs), 2,100 cell towers on-net, and over 170,000 square feet of colocation space.

360networks was represented by Fasken Martineau DuMoulin LLP's Bruce Tattrie, Peter Finley, Georald Ingborg, Frank Schober (tax); Caroline Clapham, Dierk Ullrich and Ally Bharmal, and by Perkins Coie LLP's Andrew Bor, Stephanie Hirano, Lance Bass and Bryan Smith.

Zayo was represented by Steven Talley, David Rosenauer and Aubree Corallo of Gibson Dunn & Crutcher LLP.