GTT buys Perseus for USD 37.5m

GTT Communications, Inc. (NYSE:GTT), a global cloud networking provider to multinational clients, has acquired Perseus, a provider of high-speed network connectivity serving many of the world´s top financial and eCommerce companies.

The purchase price was USD 37.5 million, plus the assumption of approximately USD 3 million in capital leases.

GTT expects that the purchase price will reflect a multiple of post-synergy adjusted EBITDA of 5.0x or lower, with integration and cost synergies to be achieved within two quarters.

GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide-area networking, Internet, managed services and voice 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.