Zayo, which is backed by DigitalBridge and EQT, agreed to acquire Crown Castle’s Fiber Solutions business for approximately $4.25 billion. This acquisition expands Zayo’s fiber network and enhances its capacity to support AI-driven data demands and next-generation connectivity. By integrating Crown Castle’s extensive metro fiber assets, Zayo aims to strengthen critical digital infrastructure across key U.S. markets, supporting enterprises, hyperscalers, and data centers with high-capacity, low-latency fiber solutions.
The deal adds roughly 90,000 route miles of fiber to Zayo’s network, increasing its total reach to more than 70,000 on-net locations. This expansion is part of Zayo’s broader strategy to invest heavily in fiber infrastructure to power AI applications, cloud computing, and digital transformation. Over the past five years, the company has invested more than $20 billion in fiber network development and plans to continue scaling connectivity solutions.
Crown Castle said it believes its best path to enhancing shareholder value is as a pure-play tower company, solely focused on supporting wireless customers in delivering advanced communications services across the U.S.
Key Transaction Highlights
• Zayo will acquire Crown Castle’s Fiber Solutions business for approximately $4.25 billion.
• The acquisition adds 90,000 route miles of fiber, significantly enhancing Zayo’s network reach.
• The deal supports the growing demand for AI infrastructure, cloud computing, and enterprise connectivity.
• Strengthens Zayo’s presence in key metropolitan areas and expands fiber access to rural communities.
• The combined value of the Fiber Solutions and Small Cells (see below) transactions is $8.5 billion.
• Zayo and Crown Castle’s Small Cells business will enter a long-term commercial agreement for fiber services.
• The transaction is expected to close in the first half of 2026, subject to regulatory approvals.
“We are strategically investing in expanding and enhancing our country’s critical network infrastructure to meet the demands of hyperscalers, data centers, enterprises, and carriers that will facilitate the growing AI economy,” said Steve M. Smith, Chief Executive Officer at Zayo. “This acquisition strengthens our ability to deliver the reliable, low-latency, high-capacity fiber solutions our customers need to scale in an increasingly data-driven world.”
