GTT Communications, Inc. (NYSE:GTT), the global cloud networking provider to multinational clients, has announced the completion of its acquisition of Global Capacity, a provider of networking services connecting enterprises to high-value cloud and business destinations, <>.
The addition of Global Capacity grows GTT´s client base, with the addition of marquee clients in the healthcare, application service provider, retail and carrier markets, adding highly complementary recurring revenue streams.
The purchase price consists of USD 100 million in cash and 1.85 million shares of GTT common stock, which was issued to the sellers at closing.
GTT funded the cash portion of the transaction with the proceeds from the debt offering completed in May.
GTT expects to complete the integration of Global Capacity within two to three quarters after closing and upon integration, to achieve its previously has announced, next financial objectives of USD 1 billion in revenue and USD 250 million in Adjusted EBITDA.
GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including optical transport, wide area networking, Internet, managed services, voice and video services. The company´s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud. GTT delivers an outstanding client experience by living its core values of simplicity, speed and agility. For more information on how GTT is redefining global communications, visit www.gtt.net.