GTT Communications agreed to acquire Global Capacity, a provider of enterprise network connectivity solutions, for $100 million in cash and 1.85 million shares of GTT common stock, to be issued to the sellers at closing.
GTT said the acquisition will add marquee clients in the healthcare, application service provider, retail and carrier markets, adding highly complementary recurring revenue streams. GTT also operates an SD-WAN service based on Velocloud.
Global Capacity also operates an extensive on-net Ethernet over Copper infrastructure that reaches over 9.6 million U.S. commercial addresses, from 41 data centers and 1,750 Central Office points of presence. Global Capacity acquired Megapath’s wholesale business and national colocation aggregation network in 2015.
“The acquisition of Global Capacity accelerates GTT’s growth strategy and underscores our commitment to connecting people across organizations and around the world,” said Rick Calder, GTT president and CEO. “GTT gains new marquee clients, enhanced network reach and scale, and a great team of employees to drive outstanding client experience, through our core values of simplicity, speed and agility. After integration, we expect to achieve our previously announced, next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA.”
“This transaction further advances the breadth, depth and ease of deploying connectivity services for our customers,” commented Jack Lodge, president of Global Capacity. “GTT’s global network reach and extensive portfolio of managed services are a compelling complement to our connectivity platform, resulting in substantial benefits for our carrier and enterprise customers. Together, we anticipate growth and success for our customers, employees, and partners.”
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