- JP Morgan Securities served as financial advisor to BAI Communications while Bank Street Group did likewise to ZenFi
- ZenFi is led by co-founder and CEO Ray LaChance
- The acquisition will also bring over 1,100 route miles of fiber network across the New York and New Jersey metro region
Sydney, Australia-based BAI Communications has acquired New York-based ZenFi Networks, a provider of digital infrastructure solutions. No financial terms were disclosed.
BAI Communications, a shared communications infrastructure provider, is owned by Canada Pension Plan Investment Board and Alberta Investment Management Corp.
ZenFi is led by co-founder and CEO Ray LaChance.
The acquisition will also bring over 1,100 route miles of fibre network across the New York and New Jersey metro region, as well as unique C-RAN solutions and a number of existing customer contracts with enterprise and mobile network operators.
On the deal, Igor Leprince, Group CEO of BAI Communications, said in a statement: “ZenFi Networks is a long established and high performing player in the wireless infrastructure sector. As an exciting business with longstanding customer relationships and a reputation for driving innovation, bringing it into the BAI Group is an important step forward in our ongoing push for growth in North America and globally.”
J.P. Morgan Securities served as exclusive financial advisor to BAI Communications and Latham & Watkins served as legal advisor. Bank Street Group served as exclusive financial advisor to ZenFi, and Alston & Bird served as legal advisor.
BAI Communications’ global operations span Australia, Canada, Hong Kong, the United Kingdom, Ireland, Italy, and the United States.