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Zayo buys Texas-based data center operator

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Zayo buys Texas-based data center operator

Zayo GroupHoldings Inc. completed the $18.9 million acquisition of ClearviewInternational LLC, a Texas-based provider of colocation and cloudinfrastructure services.

"We expect to exceed a 30% internal rate of return onthis investment," Greg Friedman, executive vice president of colocationand cloud infrastructure, said in an April 1 news release.

Zayo funded the acquisition with cash on hand. The deal willcontribute more than $2 million in incremental annualized adjusted EBITDA,before the benefit of any realized cost synergies.

Clearview operates two data centers, totaling about 30,000square feet of colocation space. The deal builds on Zayo's Dec. 31, 2015,acquisition of 66,000 square feet of data center capacity in Dallas.

Zayo now owns seven data centers in Texas, and a total of 57facilities in North America and Europe.