BOULDER, Colo.--(BUSINESS WIRE)--
Board and Management Evaluating Strategic Alternatives to Enhance Shareholder Value
Zayo Group Holdings, Inc. (ZAYO) (“Zayo” or the “Company”) today announced that the Company is postponing its Analyst Day scheduled for March 14, 2019, in Boulder, Colorado. The Board of Directors and management are currently evaluating strategic alternatives that may enhance shareholder value. The Company is postponing its Analyst Day to allow time to explore these alternatives, while retaining focus on execution and driving organic growth.
“Zayo’s purpose is to provide mission-critical bandwidth to the world’s most impactful companies. We accomplish this by executing a focused strategy centered on communications infrastructure. With our deep and expansive fiber networks in North America and Europe, we play a unique and compelling role at the core of our customers’ networks,” said Dan Caruso, Zayo Chairman and CEO. “Whether public or private, this will remain Zayo’s focus and we will continue to expand the depth and breadth of our fiber infrastructure.”
The Company will continue to focus on its communications infrastructure business, which is consistently generating positive operating cash flow, is growing while delivering attractive EBITDA margins, and is proactively investing in network expansions in collaboration with its customers.
The Company notes that there can be no assurance that any strategic alternative will result from this evaluation. Zayo has not set a timetable for the evaluation of its options, although it anticipates a minimum of several weeks to months, and does not intend to comment further unless it determines that further disclosure is appropriate or required by law.
About Zayo Group
Zayo Group Holdings, Inc. (ZAYO) provides communications infrastructure solutions, including fiber and bandwidth connectivity, colocation and cloud infrastructure to the world’s leading businesses. Customers include wireless and wireline carriers, media and content companies and finance, healthcare and other large enterprises. Zayo’s 130,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. In addition to high-capacity dark fiber, wavelength, Ethernet and other connectivity solutions, Zayo offers colocation and cloud infrastructure in its carrier-neutral data centers. Zayo provides users with flexible, customized solutions and self-service through Tranzact, an innovative online platform for managing and purchasing bandwidth. For more information, visit zayo.com.
This press release contains a number of forward-looking statements. Words, and variations of words such as “believe,” “expect,” “plan,” “continue,” “will,” “should,” and similar expressions are intended to identify our forward-looking statements. No assurance can be given that future results expressed or implied by the forward-looking statements will be achieved and actual results may differ materially from those contemplated by the forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond our control. For additional information on these and other factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our filings with the SEC, including our 10-K dated August 24, 2018. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
Zayo Group Holdings, Inc.
Brad Korch, Investor Relations
Shannon Paulk, Corporate Communications