One will consist of Zayo’s European business and the other will encompass its business that manages customers’ global network needs outside of Zayo’s core North American and European networks. The separations will 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.
Zayo Europe, now headed by newly-appointed CEO, Colman Deegan, already operates a largely autonomous, mostly-owned fiber infrastructure network across eight Western European countries. Zayo Europe will maintain key employee hubs in London, Paris, Stuttgart, and Sofia.
As a standalone business, Zayo Europe will be better positioned to achieve growth objectives across the Western European markets in which it operates. Zayo and Zayo Europe will remain under the same ownership group and offer network services globally through formal contracts.
“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,” said Steve Smith, CEO at Zayo. “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.”
Following the separation, Zayo Europe will have a new board of directors, including Jens Schulte-Bockum as chairman of the board. Schulte-Bockum is the former CEO of Vodafone Germany and Group COO of MTN Group.
“This strategic move will allow us to tailor our services and solutions to the needs of our European customers. As an independent company, we will have the agility to innovate faster, enhance our customer service, and deepen our commitment to the local markets,” said Colman Deegan, CEO of Zayo Europe. “This is an exciting new chapter for us, and we are committed to leveraging this opportunity to deliver even greater value to our customers and investors."
"As we usher in the next phase of growth with the spin-off of our European business, we are incredibly optimistic about the prospects this brings," said Jens Schulte-Bockum, Chairman of the board, Zayo Europe. "This is a pivotal step forward in our commitment to delivering excellence and value in the European digital infrastructure market. Zayo and Zayo Europe's customers will continue to benefit from Zayo's extensive global network for international expansions across North America, Asia-Pacific, Latin America, and Europe. I am confident that this focused approach will yield substantial benefits for Zayo and Zayo Europe alike."
Zayo’s business that manages its customers’ global network needs outside of Zayo’s core North American and European networks will also become a standalone entity with a separate management team that will continue to support North American and European customers’ international network expansions.
Planning is underway to complete these separations, with full legal separation anticipated in the second half of 2024.
