Colocation and connectivity service provider DataBank, has just announced the close of its deal in acquiring zColo data center assets from Zayo Group Holdings.

The close of this transaction completely adds zColo data center assets across markets in the US and UK to DataBank portfolio which will now offer its colocation, connectivity, cloud and managed services through a total of 60 data centers spread across 28 markets in the US and UK.

“DataBank has now assembled a unique portfolio of data center infrastructure and network interconnect options to address customer workloads anywhere from Tier 1 markets to the far edge,” said Raul K. Martynek, CEO of DataBank.

“With an open interconnect architecture and virtually unlimited geographic options, we are poised to help our customers in the U.S. migrate their workloads and adapt to the next evolution of the internet: the hyper-localization of data and compute being unleashed by 5G networks.”

The acquisition deal was first announced in September and funded by an investor group led by DataBank’s controlling shareholder Colony Capital Inc. In addition to leading a consortium to support the acquisition, Colony Capital invested $145 million from its balance sheet to maintain its 20% stake in DataBank.

Through this deal, DataBank has now expanded its portfolio with an addition of the acquired 44 data centers. As earlier announced, Zayo Group will also become a significant customer of DataBank and continue to be an anchor tenant across the acquired zColo facilities.

“With the close of the zColo-DataBank transaction, Zayo is able to focus 100% of its attention on its core Network business and customers. Today, Zayo has an unparalleled depth and breadth of fiber assets across the U.S., Canada and Western Europe through which it serves many of the world’s most impactful companies. The close of this transaction will allow us to take Zayo to the next level – better aligning our resources around network quality, customer service, innovative solutions and expanded reach,” said Steve Smith, CEO of Zayo.

According to DataBank, a second closing for the five data centers in France is expected in Q1 2021. This will bring DataBank global data center count to 65 across 29 markets.