Zayo said the purchase will expand its fiber network and reinforce its strategic focus on enabling AI and digital transformation across the U.S.

Zayo, a leading communications infrastructure provider backed by DigitalBridge and EQT, announced it has entered into a definitive agreement to acquire Crown Castle’s Fiber Solutions business in a transaction valuing the business at approximately $4.25 billion.

Telecommunications company Crown Castle Inc. has reached an agreement with an EQT AB fund and Zayo Group Holdings Inc. for each to buy separate parts of its fiber business for a combined value of $8.5 billion.