Expands network scale and deepens market presence in Europe
July 08, 2019 2:00 AM ET || Source: GTT Communications, Inc.
MCLEAN, Va., July 08, 2019 -- GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, announced today a definitive purchase agreement to acquire KPN International, a division of KPN N.V. headquartered in Netherlands, for approximately €50 million in cash, on a cash and debt-free basis. KPN International operates a global IP network serving enterprise and carrier clients.
The strategic combination:
- Augments scale and network reach, adding depth to GTT’s Tier 1 global IP network in Europe across 21 countries, including long-haul fiber routes and metro rings in Frankfurt, London, Amsterdam and Paris.
- Adds more than 400 strategic enterprise and carrier clients. GTT will be the preferred international network supplier for an additional 400 clients retained by KPN.
- Contributes a global sales, operations, service delivery and client service organization, with a proven track record of delivering outstanding client experience.
- Complements GTT’s comprehensive portfolio of cloud networking services with similar best-in-class transport and infrastructure, internet, and wide area networking services.
“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 acquisition is expected to close in the third quarter 2019 subject to obtaining the required regulatory approvals.
GTT connects people across organizations, around the world and to every application in the cloud. Our clients benefit from an outstanding service experience built on our core values of simplicity, speed and agility. GTT owns and operates a global Tier 1 internet network and provides a comprehensive suite of cloud networking services. For more information on GTT (NYSE: GTT), please visit www.gtt.net.
About KPN International
KPN International is a telecommunications and IT provider, serving both Dutch and International customers with its connectivity and value-added services. KPN International offers its services to small-, medium-, and large-size business customers and Wholesales customers worldwide. KPN International is part of Royal KPN, a leading telecommunications and IT provider and market leader in the Netherlands, serving both consumer and business customers with its fixed and mobile networks for telephony, broadband and television.
GTT Media Inquiries:
Marion Janic, RooneyPartners
Bob Cavosi, RooneyPartners
GTT Investor Relations:
Jody Burfening/Carolyn Capaccio, LHA