Zayo Group Holdings, Inc., after an extensive review period, agreed to be acquired by PE firms Digital Colony and EQT, for $14.3 billion including $5.9 billion of net debt, in a deal announced Wednesday.
Zayo, under pressure, said in March it was looking at strategic options.
Boulder, Colo.-based Zayo operates a 131,000-mile fiber network in the U.S., Canada and Europe that connects to thousands of buildings and data centers.
Zayo has a strong east coast network and a data center at 401 N Broad St. It had been subject to periodic speculation in the past that Comcast might be interested in acquiring it.
But Zayo might find its ultimate purpose as an acquisition by someone building out 5g.