GTT instructs Credit Suisse and Goldman Sachs for infrastructure unit sale
GTT Communications has instructed Credit Suisse and Goldman Sachs as its financial advisors for the potential sale of its infrastructure division.
The news follows the announcement made during the company’s 2019 third-quarter results. In the filing GTT, the company stated; “GTT has expanded the scope of its non-strategic and non-core asset divestiture exploratory process to include the Company’s highly differentiated pan-European fibre assets, subsea transatlantic fibre and data centre infrastructure, which the Company acquired as part of the Interoute and Hibernia acquisitions.”
Speaking on the potential sale of GTT assets, Rick Calder (pictured), GTT president and CEO, said: “The appointment of Credit Suisse and Goldman Sachs is an important step in our process to explore the sale of our Infrastructure Division. This potential divestiture in no way alters the execution of GTT’s core strategy of providing cloud networking services to large and multinational clients as we deliver on our purpose of connecting people to any location in the world and to every application in the cloud.”
The news comes as company reported a decline of 6.4% in comparison to Q3 2018 numbers, further, this was down 3.2% compared with Q2 of 2019 due in part to a 0.9% decline in monthly recurring cash revenue, a 0.8% decline from foreign currency, a 0.7% decline in non-recurring other revenue.
Earlier this year, the telco found itself in trouble when three US law firms threatened class-action lawsuits against GTT over its €1.9 billion acquisition last year of Interoute. The different law firms cite the fall in share price since GTT revealed its challenges with integrating Interoute and the fact that Interoute had shifted to a different marketing position before GTT took it over.
source capacitymedia
Industry: Telecommunications
Latest Jobs
-
- Lead Cyber Security Incident Response Consultant.
- United Kingdom
- N/A
-
Seeking skilled and passionate UK-based individual for a Lead Cyber Security Incident Response Consultant opportunity 3 core skillsets for the role Hands on technical incident response (triage and planning). Business consultancy (engaging with clients). Commercial awareness. Being able to engage in business growth conversations. Consultancy experience is an essential as it the ability to visit clients and the office. Additional experience will include, but not be limited to: Developing incident response strategies, guides and procedures for effective incident handling Proactive and reactive defense plans based on cyber threat actors' techniques Offering guidance, supervision, and fostering opportunities for team development Significant career development opportunities for the right individuals.
-
- OUTSIDE IR35 Contract- Functional tester- SC clearance Microsoft Windows Server
- London
- Outside IR35 contract
-
Front End Functional tester with SC clearance needed for an Outside IR35 project. Current valid SC clearance is required Experience with functional testing with exchange, sharepoint, SQL and other applications relating across a windows server Migration to 2019. Must be able to get to Central London 3 days a week. Jira, Wiki documentation and automation experience highly desirable.
-
- ForgeRock Consultant- UK
- United Kingdom
- Upto £100,000 plus benefits
-
ForgeRock Consultant/ Architect is require for niche consultancy who are looking to expand their presence within the UK/European Market Looking for a lead IAM architect, ideally with ForgeRock experience but would consider other vendors, But looking for someone who is able to advice and consultant with Clients but have the implementation background so they can get involved in projects as and when needed. Key duties will be: Provider IAM consultancy to clients, with a focus on ForgeRock Product stack ·Responsible for the design and implementation of ForgeRock solutions ·Install and configure ForgeRock stack to meet customer authentication and authorization requirements, ·Design and implement OAuth2 protocol using ForgeRock OpenAM, ·Design and develop OpenAM custom authentication modules, ·Configure ForgeRock stack to protect RESTful API, ·Troubleshoot and support ForgeRock IAM stack. This is a great role to join a niche play as they look to kick of their European expansion
-
- ForgeRock Consultant- Netherlands
- Netherlands
- N/A
-
ForgeRock Consultant required for 6 Month Contract This will be a mix of on site and home based, so need people to be based in the Netherlands We are looking for a lead ForgeRock Technical Consultant/ Architect with strong experience of ForgeRock to lead a new deployment project. ·Responsible for the design and implementation of ForgeRock stack ·Install and configure ForgeRock stack to meet customer authentication and authorization requirements, ·Design and implement OAuth2 protocol using ForgeRock OpenAM, ·Design and develop OpenAM custom authentication modules, ·Configure ForgeRock stack to protect RESTful API, ·Troubleshoot and support ForgeRock IAM stack. ·Designed and developed Restful APIs, This is a great project with an expanding leading IAM player within Europe, We are looking for someone with the above experience, who is comfortable hitting the ground running and taking on the reins at the start of a project