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Citynet has completed the sale of its Wholesale Division

02/15/08

Tulsa, OK: Citynet has completed the sale of its Wholesale Division to Louisville, CO based Zayo Bandwidth, the fiber based bandwidth business unit of Zayo Group. Citynet Wholesale, based in Tulsa, OK, will now become Zayo Bandwidth.

The transaction (which formally closed on February 15, 2008) will have no effect on Citynet’s growing Retail Operation, their customers or their employees. With this acquisition Zayo’s growth and current service areas will provide Citynet with an untapped ability to rapidly expand its highly innovative Retail products into new markets.

This announcement represents a key strategic move for Citynet according to Jim Martin (President and CEO of Citynet), “finalizing the Zayo transaction provides Citynet with a long-term strategic bandwidth partner in Zayo and allows us to recapitalize our Retail Operation as a leading regional telecommunications provider. The sale provides Citynet with added capital resources to expand and grow our Retail operation through new market expansions and strategic business acquisitions. This is win-win opportunity that greatly improves our ability to serve the needs of our growing customer base.”

Citynet is a growing regional, full service provider of communications services including voice, data, internet, network managed services, and Digital Telephone Service. The company specializes in single source, high speed communications services in the markets they serve. A one-stop-shop, Citynet offers products and services from the circuit to the desktop for small and medium businesses, along with internet access and Digital Phone Service to business and residential customers. For more information see www.citynet.net.

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