GTT to Acquire KPN International
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GTT Communications, Inc., the global cloud networking provider to multinational clients, announced this week a definitive purchase agreement to acquire KPN International, a division of KPN N.V. headquartered in the Netherlands, for approximately €50 million in cash, on a cash and debt-free basis. KPN International operates a global IP network serving enterprise and carrier clients.
The strategic combination:
- Augments scale and network reach, adding depth to GTT’s Tier 1 global IP network in Europe across 21 countries, including long-haul fibre routes and metro rings in Frankfurt, London, Amsterdam and Paris.
- Adds more than 400 strategic enterprise and carrier clients. GTT will be the preferred international network supplier for an additional 400 clients retained by KPN.
- Contributes a global sales, operations, service delivery and client service organization, with a proven track record of delivering outstanding client experience.
- Complements GTT’s comprehensive portfolio of cloud networking services with similar best-in-class transport and infrastructure, internet, and wide area networking services.
“The acquisition of KPN International deepens our market presence in the European region,” said Rick Calder, GTT president and CEO. “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.”
The acquisition is expected to close in the third quarter of 2019 subject to obtaining the required regulatory approvals.
source gtt
Industry: Telecommunications
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