Expands Tier 1 IP network in Europe and Middle East
Adds strategic low latency routes
Expands base of multinational clients
January 8, 2018 08:00 AM ET | Source: GTT Communications, Inc.
MCLEAN, Va., January 8, 2018 -- (BUSINESS WIRE) -- GTT Communications, Inc. (NYSE:GTT), the leading global cloud networking provider to multinational clients, announced today the acquisition of Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving the world’s leading multinational enterprises and financial trading firms.
The strategic combination:
• Extends the reach of GTT’s global Tier 1 IP backbone with additional points of presence in Europe and the Middle East
• Augments GTT’s portfolio of ultra-low latency services with the industry’s lowest latency service from Frankfurt to London, New York and Chicago
• Aligns with GTT’s portfolio of cloud networking services, including Ethernet, IP and SD-WAN
• Deepens GTT’s base of multinational clients with highly strategic accounts
• Expands GTT’s sales presence in the Benelux region
“The acquisition of Custom Connect extends GTT’s network and strengthens our service offerings in high growth financial markets,” said Rick Calder, GTT president and CEO. “These enhanced capabilities reinforce GTT’s market leadership in cloud networking and our commitment to connecting people – across organizations and around the world.”
“Custom Connect and GTT are highly complementary businesses and the combination provides strategic advantages to our clients as well as our organizations,” said Olav van Doorn, Custom Connect CEO. “GTT gains strategic network assets and marquis clients. We look forward to a seamless integration in the upcoming months.”
Oppenheimer served as the exclusive financial advisor to Custom Connect. Mamadoo Ventures participated in the transaction as principal outside investor in Custom Connect.
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, please visit www.gtt.net.
Jody Burfening/Carolyn Capaccio, LHA