Zayo Group has announced plans to split its business into two independent entities, with one unit focusing on the company's European business.

The other entity will focus on Zayo's business outside of its core European and North American markets.

In its announcement, Zayo said that the restructure will provide "flexibility to capitalize on unique growth opportunities, simplify operations, and align strategic and business objectives."

The communications infrastructure company said planning is underway to complete the move, with full legal separation anticipated in the second half of 2024.

Zayo Europe will be led by former Vodafone Spain CEO Colman Deegan, who was appointed to the role last month.

In Europe, the company operates a largely autonomous, mostly-owned fiber infrastructure network across eight Western European countries. The company added that it will maintain key employee hubs in London, Paris, Stuttgart, and Sofia. 

Zayo and Zayo Europe will remain under the same ownership group and offer network services globally through formal contracts. 

“The transition of our European business into an independent entity marks a pivotal moment in Zayo Group's strategic journey as we look to maximize our potential across the continent,” said Steve Smith, CEO at Zayo.

“Under the experienced leadership of Colman Deegan, our shared owners will continue to invest in Zayo Europe and position the organization for accelerated growth and momentum in the European market.”

The separation of the business into two means that Zayo Europe will have a new board of directors, including Jens Schulte-Bockum as chairman of the board. Schulte-Bockum is the former CEO of Vodafone Germany and Group COO of MTN Group. 

“This strategic move will allow us to tailor our services and solutions to the needs of our European customers. As an independent company, we will have the agility to innovate faster, enhance our customer service, and deepen our commitment to the local markets,” said Colman Deegan, CEO of Zayo Europe.

“This is an exciting new chapter for us, and we are committed to leveraging this opportunity to deliver even greater value to our customers and investors.”

Separately in November, Zayo announced the acquisition of fiber infrastructure and network services company Globalways GmbH.

Based in Boulder, Colorado, Zayo network spans over 17 million fiber miles and 142,000 route miles. The company also provides managed Edge services.