GTT Completes Acquisition of KPN International
MCLEAN, Va.--(BUSINESS WIRE)--Dec 2, 2019--
GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today the completion of its acquisition of KPN International, a division of KPN N.V. headquartered in the Netherlands, which operates a global IP network serving enterprise and carrier clients.
This strategic combination:
- 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.
- Complements GTT’s comprehensive portfolio of cloud networking services with wide area networking, internet and transport services, and adds depth to GTT’s global Tier 1 IP network in Europe across 21 countries.
- Contributes a sales, operations, service delivery and client service organization, with a proven track record of delivering outstanding client experience.
“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.”
GTT paid approximately €50 million in cash, on a cash and debt-free basis, to complete the transaction, and will continue to evaluate options to optimize the GTT capital structure, including various and opportunistic financing and refinancing options.
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 wholesale 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005214/en/
CONTACT: GTT Media Inquiries:
Marion Janic, RooneyPartners
Bob Cavosi, RooneyPartners
GTT Investor Relations:
Jody Burfening/Carolyn Capaccio, LHA
KEYWORD: EUROPE UNITED STATES NETHERLANDS NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS SATELLITE NETWORKS INTERNET HARDWARE DATA MANAGEMENT TECHNOLOGY SECURITY
SOURCE: GTT Communications, Inc.
Copyright Business Wire 2019.
PUB: 12/02/2019 03:00 AM/DISC: 12/02/2019 03:01 AM