GTT to buy KPN International for €50 million cash
Cloud networking services provider GTT Communications, Inc. (NYSE: GTT) will expand its footprint in Europe, thanks to an agreement to purchase KPN International, the multinational business services division of KPN N.V. GTT plans to pay approximately €50 million (approximately $56 million) in cash for the assets, on a cash and debt-free basis. The deal is expected to close in the third quarter of this year.
KPN International operates in 21 countries across Europe through a combination of long-haul fiber networks and metro ring networks in such markets as Frankfurt, London, Amsterdam and Paris. The company serves more than 400 enterprise and carrier clients; GTT says it will become the preferred international network services supplier for another 400 clients KPN will retain. A global sales, operations, service delivery, and client service organization will come as part of the deal as well.
“The acquisition of KPN International deepens our market presence in the European region,” said Rick Calder, GTT president and CEO. “The world-class resources contributed from this acquisition, including a highly experienced team, international network assets, and a deep roster of multinational clients, will help us deliver on our purpose of connecting people across organizations around the world and to every application in the cloud.”
The pending acquisition is the latest in a string of GTT purchases over the past three years. The company also has acquired such infrastructure companies as Access Point, Interoute (a deal that had already boosted GTT’s European footprint), Custom Connect, Global Capacity, Perseus, and Hibernia Networks.
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
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