GTT Communications completed its previously announced acquisition of KPN International, which operates a global IP network serving enterprise and carrier clients. GTT paid approximately €50 million in cash, on a cash and debt-free basis.
The acquisition adds more than 400 strategic enterprise and carrier clients. GTT will also be the preferred international network supplier for several hundred additional clients retained by KPN.
GTT said the purchase adds to its portfolio of cloud networking services with wide area networking, internet and transport services, and adds depth to its global Tier 1 IP network in Europe across 21 countries.
“The great client base contributed by this acquisition, combined with a talented group of employees, strengthens GTT’s presence in Europe,” said Rick Calder, GTT president and CEO. “We are pleased to welcome this blue-chip roster of clients from KPN International who can now access GTT’s expansive global network and comprehensive service portfolio, as we deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”
