Location: Louisville, Colo.
Why it's so cutting edge: Like Windstream, we are watching this company more for business/strategic reasons. It closed out 2007 with an aggressive string of acquisitions focused on regional fiber network properties, but hasn't really slowed down in 2008, buying when others shied away from deals and getting funding for those acquisitions when others experienced borrowing difficulty. A number of service providers has said they are interested in doing deals, but Zayo actually is doing them.
But can it keep its edge? Zayo has safely tied its deals directly to ongoing funding rounds, and hasn't let its eyes grow larger than its stomach. Still, the name of the game is telecom services, and Zayo remains one of the newer kids on the block.