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GTT completes acquisition of Global Capacity

Published 09/18/2017, 12:58 PM
© Reuters. GTT completes acquisition of Global Capacity
  • GTT Communications (GTT +1%) announced today the completion of its acquisition of Global Capacity, a provider of networking services connecting enterprises to high-value cloud and business destinations.
  • The transaction consists of $100M in cash (Debt offering completed in May) and 1.85M shares of GTT common stock, which was issued to the sellers at closing.
  • The acquisition of Global Capacity would enable GTT to grow its client base, with the addition of marquee clients across diversified sectors, adding highly complementary recurring revenue streams and augments GTT’s SD-WAN service with diverse access options, Expands scale and network reach with low cost connectivity to nearly 10M U.S. commercial addresses, from 41 data centers and 1,750 Central Office points of presence.
  • GTT expects to complete the integration of Global Capacity within two to three quarters after closing and upon integration, to achieve its previously announced, next financial objectives of $1B in revenue and $250M in Adjusted EBITDA.
  • Now read: More Dividend Power For American Tower


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