GTT steps up European push,commits to buy KPN International

GTT Communications has inked a definitive purchase agreement to acquire KPN International, a division of Dutch telco KPN,  for approximately €50 million in cash, on a cash and debt-free basis.

GTT said the purchase of KPN International  – which operates a global IP network serving enterprise and carrier customers – will enable it to

  • Augment 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
  • Add more than 400 strategic enterprise and carrier clients. GTT will be the preferred international network supplier for an additional 400 clients retained by KPN
  • Contribute a global sales, operations, service delivery and client service organization, with a proven track record of delivering outstanding client experience
  • Complement GTT’s comprehensive portfolio of cloud networking services with similar best-in-class transport and infrastructure, internet, and wide area networking services

“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,:” said GTT president and CEO Rick Calder.

The acquisition is expected to close in the third quarter 2019 subject to the required regulatory approvals.

Categories: M&A, telco

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