Showing posts with label GTT. Show all posts
Showing posts with label GTT. Show all posts

Monday, July 6, 2020

GTT names Ernie Ortega as interim CEO

GTT Communications named Ernie Ortega as interim CEO while the board continues its search for a permanent CEO.

Ortega currently serves as GTT’s Chief Revenue Office.

GTT's Board of Directors also announced that Don MacNeil has joined the GTT leadership team as chief operating officer (COO). Mr. MacNeil will lead GTT’s network operations, service delivery, assurance and vendor management teams, as well as GTT’s product organization.

“I am delighted to name Ernie Ortega as interim CEO and Don MacNeil as GTT’s chief operating officer,” stated H. Brian Thompson, GTT Founder and Executive Chairman of the Board. “Both Ernie and Don have a track record of delivering successful organizational change and operational improvement for national, international and global businesses. Their industry experience and leadership will accelerate our drive to operational excellence, a clearly outstanding client experience, continuous improvement of our services, and the achievement of our organic growth goals."


GTT announces resignation of its CEO

Richard D. Calder will step down as president and CEO of GTT, effective on June 1, 2020.

“We appreciate the many accomplishments Rick has achieved since joining GTT as CEO in May 2007 over 13 years ago,” stated H. Brian Thompson, GTT executive chairman. “We have initiated an executive search for a new CEO to lead GTT moving forward.”

GTT is conducting a search for a replacement. In the interim, the company will be led by a group made up of several top executives, including chief financial officer Steven Berns, chief revenue officer Ernie Ortega, general counsel Chris McKee and senior vice president of operations and engineering Bob Burris.




GTT completes acquisition of KPN International

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.

GTT looks to sell subsea cables and European fiber network

GTT Communications has retained Credit Suisse and Goldman Sachs as financial advisors in connection with the potential sale of the Infrastructure Division, which includes its terrestrial pan-European fiber network, subsea transatlantic fiber and data centers. This infrastructure was part of GTT's acquisition of Interoute and of Hibernia.

Wednesday, May 27, 2020

GTT announces resignation of its CEO

Richard D. Calder will step down as president and CEO of GTT, effective on June 1, 2020.

“We appreciate the many accomplishments Rick has achieved since joining GTT as CEO in May 2007 over 13 years ago,” stated H. Brian Thompson, GTT executive chairman. “We have initiated an executive search for a new CEO to lead GTT moving forward.”

GTT is conducting a search for a replacement. In the interim, the company will be led by a group made up of several top executives, including chief financial officer Steven Berns, chief revenue officer Ernie Ortega, general counsel Chris McKee and senior vice president of operations and engineering Bob Burris.




GTT completes acquisition of KPN International

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.

GTT looks to sell subsea cables and European fiber network

GTT Communications has retained Credit Suisse and Goldman Sachs as financial advisors in connection with the potential sale of the Infrastructure Division, which includes its terrestrial pan-European fiber network, subsea transatlantic fiber and data centers. This infrastructure was part of GTT's acquisition of Interoute and of Hibernia.

Sunday, May 10, 2020

GTT posts Q1 revenue of $399 million

GTT reported recurring revenue of $399.4 million for the 1st quarter 2020, an increase of 0.6% as compared to the 4th quarter 2019, and a decrease of 4.4% compared to the 1st quarter 2019. Recurring revenue represents 94% of total revenue for the 1st quarter 2020 compared to 94% and 93% for the 4th quarter 2019 and the 1st quarter 2019, respectively. Non-recurring revenue of $25.3 million for the 1st quarter 2020 decreased 5.2% compared to the 4th quarter 2019, and decreased 21.9% compared to the 1st quarter 2019. Net loss qA $83.3 million for the 1st quarter 2020 compared to a net loss of $19.1 million for the 4th quarter 2019, and a net loss of $27.3 million for the 1st quarter 2019. The net losses in all periods include non-recurring costs, including exit, transaction and integration costs of $4.3 million for the 1st quarter 2020, $7.5 million for the 4th quarter 2019, and $12.0 million for the 1st quarter 2019.

GTT said it continues to explore the monetization of its Infrastructure Division, which is expected to include the company’s highly differentiated pan-European fiber assets, subsea transatlantic fiber and data center infrastructure, which GTT acquired as part of the Interoute and Hibernia acquisitions.

https://www.gtt.net/media/2585/gtt-investor-presentation-may-20.pdf

Monday, April 6, 2020

GTT names new CFO

GTT Communications named Steven Berns as its new Chief Financial Officer. Prior to joining GTT, he served as Co-Chief Operating Officer and Chief Financial Officer at Shutterstock, a leading global technology company.

“Steven has a distinguished track record leading finance organizations in several mid- to large-size public companies,” stated Rick Calder, GTT President and CEO. “He will add seasoned executive leadership towards the achievement of GTT’s organic revenue growth and operational excellence objectives as we deliver on our purpose, connecting people around the world and to every application in the cloud. With the appointment of Steven, we would like to thank Dan Fraser for his dedicated service as Interim Chief Financial Officer. Dan will continue to serve as Senior Vice President, Finance, and Controller.”

GTT's revenue dips to $420 million, considers sale of European assets

GTT Communications reported revenue of $420.0 million for the quarter ended September 30, 2019, a decline of 6.4% compared to 3Q18, and a decline of 3.2% compared to 2Q19. The sequential revenue decline of 3.2% was attributable to a 0.9% decline in monthly recurring cash revenue, a 0.8% decline from foreign currency, a 0.7% decline in non-recurring and other revenue, a 0.6% decline in the runoff of non-cash deferred revenue, and a 0.2% increase in revenue credits.

Net loss for the quarter was $26.2 million compared to net loss of $23.4 million in 3Q18 and net loss of $33.3 million in 2Q19.

Net install trends improved sequentially over the course of the quarter and net installs were positive in October.

GTT also announced an expansion of its non-strategic and non-core asset divestiture exploratory process to include its pan-European fiber assets, subsea transatlantic fiber and data center infrastructure, which the company acquired as part of the Interoute and Hibernia acquisitions.

Tuesday, January 14, 2020

GTT adds Fortinet to SD-WAN portfolio

GTT Communications has expanded its SD-WAN service offering by adding Fortinet Secure SD-WAN as a technology option over any last-mile access. It includes Fortinet's integrated next generation firewall and unified threat management functionality combined with an SD-WAN edge device and router.

“Clients rely on GTT to securely connect their locations across the world and to every application in the cloud,” stated Rick Calder, GTT president and CEO. “Our broad portfolio of SD-WAN service options, that now includes Fortinet, ensures that clients can run their applications with superior security, performance and reliability to support their business goals.”

Monday, December 2, 2019

GTT completes acquisition of KPN International

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.”

Sunday, December 1, 2019

GTT looks to sell subsea cables and European fiber network

GTT Communications has retained Credit Suisse and Goldman Sachs as financial advisors in connection with the potential sale of the Infrastructure Division, which includes its terrestrial pan-European fiber network, subsea transatlantic fiber and data centers. This infrastructure was part of GTT's acquisition of Interoute and of Hibernia.

“The appointment of Credit Suisse and Goldman Sachs is an important step in our process to explore the sale of our Infrastructure Division,” stated Rick Calder, GTT president and CEO. “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.”


In November, GTT Communications reported revenue of $420.0 million for the quarter ended September 30, 2019, a decline of 6.4% compared to 3Q18, and a decline of 3.2% compared to 2Q19. The sequential revenue decline of 3.2% was attributable to a 0.9% decline in monthly recurring cash revenue, a 0.8% decline from foreign currency, a 0.7% decline in non-recurring and other revenue, a 0.6% decline in the runoff of non-cash deferred revenue, and a 0.2% increase in revenue credits.

Net loss for the quarter was $26.2 million compared to net loss of $23.4 million in 3Q18 and net loss of $33.3 million in 2Q19.

Net install trends improved sequentially over the course of the quarter and net installs were positive in October.

GTT to acquire KPN International for EUR 50 million

GTT Communications agreed to acquire KPN International for approximately €50 million in cash, on a cash and debt-free basis.

KPN International, which is headquartered in the Netherlands and is a division of KPN N.V., operates a global IP network serving enterprise and carrier clients.

GTT said the acquisition augments its the scale and reach of its Tier 1 global IP network in Europe. KPN International's network spans 21 countries, including long-haul fiber routes and metro rings in Frankfurt, London, Amsterdam and Paris. It has more than 400 strategic enterprise and carrier clients.

“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 2019 subject to obtaining the required regulatory approvals.

GTT acquires Accelerated Connections, expanding across Canada

GTT Communications has acquired Accelerated Connections (ACI), a Toronto-headquartered provider of managed networking, voice-over-IP (VoIP) and colocation services, serving large distributed Canadian enterprises. Financial terms were not disclosed at this time.

ACI operates a network connecting all of Canada's provinces, as well as two state-of-the-art data center facilities.



GTT's acquisition of Interoute adds 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

GTT to Acquire Hibernia for Transatlantic Cable Network

GTT Communications agree to acquire Hibernia Networks, which owns the new Hibernia Express transatlantic cable systems and other terrestrial and undersea fiber assets, for $590 million.  The deal consists of $515 million in cash and approximately 3.3 million shares of GTT common stock, to be issued to the sellers at closing, valued at $75 million.

GTT operates a global Tier 1 IP network with owned and leased dark fiber assets including five owned subsea cables and eight cable landing stations. The company delivers global cloud services to multinational customers. GTT is based in McLean, Virginia.

Tuesday, November 12, 2019

GTT's revenue dips to $420 million, considers sale of European assets

GTT Communications reported revenue of $420.0 million for the quarter ended September 30, 2019, a decline of 6.4% compared to 3Q18, and a decline of 3.2% compared to 2Q19. The sequential revenue decline of 3.2% was attributable to a 0.9% decline in monthly recurring cash revenue, a 0.8% decline from foreign currency, a 0.7% decline in non-recurring and other revenue, a 0.6% decline in the runoff of non-cash deferred revenue, and a 0.2% increase in revenue credits.

Net loss for the quarter was $26.2 million compared to net loss of $23.4 million in 3Q18 and net loss of $33.3 million in 2Q19.

Net install trends improved sequentially over the course of the quarter and net installs were positive in October.

GTT also announced an expansion of its non-strategic and non-core asset divestiture exploratory process to include its pan-European fiber assets, subsea transatlantic fiber and data center infrastructure, which the company acquired as part of the Interoute and Hibernia acquisitions.

Tuesday, October 29, 2019

GTT upgrades European backbone routes with Infinera

GTT Communications has upgraded its fiber network across several of its European route to enhance the capacity and performance of its Tier 1 global IP network.

Specifically, GTT has upgraded routes that connect network points of presence in London, Amsterdam, Frankfurt and Paris, including the subsea link between the United Kingdom and The Netherlands, along with an additional route in southern Europe that connects Madrid and Marseille.

GTT has also deployed more fiber capacity on its metro networks in Paris and Marseille. The upgrade to the Marseille metro network extends to multiple subsea cable landing stations. Additionally, GTT has expanded its European network footprint by deploying a new point of presence in Belgrade, Serbia.

GTT utilized Infinera’s FlexILS line system and high-performance ICE4 optical engine with instant bandwidth to complete the upgrades.

“Europe is a major market for GTT, and we are continuing to invest in our advanced network infrastructure to support clients’ ever increasing bandwidth requirements,” stated Rick Calder, GTT president and CEO. “This is a further demonstration of GTT’s commitment to deliver on its purpose to connect people across organizations, around the world and to every application in the cloud.”

GTT to acquire KPN International for EUR 50 million

GTT Communications agreed to acquire KPN International for approximately €50 million in cash, on a cash and debt-free basis.

KPN International, which is headquartered in the Netherlands and is a division of KPN N.V., operates a global IP network serving enterprise and carrier clients.

GTT said the acquisition augments its the scale and reach of its Tier 1 global IP network in Europe. KPN International's network spans 21 countries, including long-haul fiber routes and metro rings in Frankfurt, London, Amsterdam and Paris. It has more than 400 strategic enterprise and carrier clients.


Tuesday, July 30, 2019

GTT enhances its SD-WAN service

GTT Communications has enhanced its SD-WAN service by adding the capability to run multiple network applications on a single universal customer premises equipment (uCPE) device.

Virtualized network functions (VNFs) include SD-WAN, firewall and WAN optimization.

“GTT is advancing its portfolio of cloud networking services with new functionality. We will continue to expand our SD-WAN offer with additional features on uCPE to connect our enterprise clients to any location in the world and every application in the cloud,” stated Rick Calder, GTT president and CEO.

http://www.gtt.net

Monday, July 8, 2019

GTT to acquire KPN International for EUR 50 million

GTT Communications agreed to acquire KPN International for approximately €50 million in cash, on a cash and debt-free basis.

KPN International, which is headquartered in the Netherlands and is a division of KPN N.V., operates a global IP network serving enterprise and carrier clients.

GTT said the acquisition augments its the scale and reach of its Tier 1 global IP network in Europe. KPN International's network spans 21 countries, including long-haul fiber routes and metro rings in Frankfurt, London, Amsterdam and Paris. It has more than 400 strategic enterprise and carrier clients.

“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 2019 subject to obtaining the required regulatory approvals.

GTT acquires Accelerated Connections, expanding across Canada

GTT Communications has acquired Accelerated Connections (ACI), a Toronto-headquartered provider of managed networking, voice-over-IP (VoIP) and colocation services, serving large distributed Canadian enterprises. Financial terms were not disclosed at this time.

ACI operates a network connecting all of Canada's provinces, as well as two state-of-the-art data center facilities.

GTT said the acquisition extends its market presence and unique network assets in Canada, including its landing station for GTT Express, the lowest latency transatlantic cable system. The acquisition also adds strategic clients in key vertical markets, including hospitality, retail and financial services.

“ACI’s deep experience in delivering cloud networking services to distributed enterprises in Canada significantly expands GTT’s global presence,” said Rick Calder, GTT president and CEO. “This acquisition demonstrates our commitment to invest in assets and capabilities that enable us to deliver on our purpose of connecting people across organizations and around the world.”

“The combination of ACI and GTT creates a disruptive competitor in the Canadian market,” said Michael Garbe, ACI CEO. “Customers will benefit from access to GTT’s Tier 1 IP network, comprehensive service portfolio, global reach and deep experience in connectivity and managed services. We expect a rapid and smooth integration over the coming months.”

GTT's acquisition of Interoute adds 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. 

Thursday, November 8, 2018

GTT posts Q3 revenue of $448.6 million

GTT reported revenue of $448.6 million and a net loss was $23.4 million. Capital expenditures were $28.9 million (6.4% of revenue)

When assuming constant currency and the inclusion of  Interoute’s and Global Capacity's historical results, GTT's 3Q18 revenue and adjusted EBITDA grew 1.4% and 2.3%, respectively, over 3Q17.

In addition, GTT established its next financial objectives of $3 billion in annualized revenue, $900 million in annualized Adjusted EBITDA and a minimum of $5 per share of annualized Adjusted Free Cash Flow, to be achieved within the next three years.

The company said it is making good progress with the integration of Interoute.


Monday, October 1, 2018

GTT Acquires Access Point, a service provider in North Carolina

GTT Communications has acquired Access Point, a provider of communication services headquartered in Cary, North Carolina for $40 million. GTT paid $35 million in cash and 115,194 shares valued at $5 million.

“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” said Rick Calder, GTT president and CEO. “We expect a rapid integration as we work with our new clients to deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”

"With GTT, Access Point customers now have access to one of the industry’s largest Tier 1 global IP networks and a broad portfolio of cloud networking services backed by a commitment to providing outstanding service that mirrors our own,” said Richard Brown, Access Point CEO. “We value the loyalty of our customers, and we look forward to providing them an even more robust set of communication services as we integrate swiftly with GTT."


Monday, March 26, 2018

GTT attracts funding from Adelph Capital and Crestview

A group of investors, led by Aleph Capital Partners LLP and Crestview Partners, has committed to invest $175 million in GTT common stock at the closing of the acquisition of Interoute by GTT.

“Aleph and Crestview’s investment is a strong vote of confidence in our vision to create a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for cloud networking services in Europe, the U.S. and across the globe,” said Rick Calder, GTT president and CEO.

GTT's acquisition of Interoute would add 72K km of European fiber to its transatlantic cables


Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

Monday, March 12, 2018

GTT acquires Accelerated Connections, expanding across Canada

GTT Communications has acquired Accelerated Connections (ACI), a Toronto-headquartered provider of managed networking, voice-over-IP (VoIP) and colocation services, serving large distributed Canadian enterprises. Financial terms were not disclosed at this time.

ACI operates a network connecting all of Canada's provinces, as well as two state-of-the-art data center facilities.

GTT said the acquisition extends its market presence and unique network assets in Canada, including its landing station for GTT Express, the lowest latency transatlantic cable system. The acquisition also adds strategic clients in key vertical markets, including hospitality, retail and financial services.

“ACI’s deep experience in delivering cloud networking services to distributed enterprises in Canada significantly expands GTT’s global presence,” said Rick Calder, GTT president and CEO. “This acquisition demonstrates our commitment to invest in assets and capabilities that enable us to deliver on our purpose of connecting people across organizations and around the world.”

“The combination of ACI and GTT creates a disruptive competitor in the Canadian market,” said Michael Garbe, ACI CEO. “Customers will benefit from access to GTT’s Tier 1 IP network, comprehensive service portfolio, global reach and deep experience in connectivity and managed services. We expect a rapid and smooth integration over the coming months.”



GTT's acquisition of Interoute adds 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe. Following our successful, proven acquisition model, we expect to complete this integration within three to four quarters postclose and achieve a post-synergy multiple of seven to eight times Adjusted EBITDA or better on a pro forma basis.”

“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”


GTT acquires Amsterdam-based Custom Connect



GTT has acquired Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving multinational enterprises and financial trading firms. Financial terms were not disclosed. Custom Connect, which was founded by Olav van Doorn and Jan Willem Meijer, operates a carrier-neutral MPLS/IP network that integrates SD-WAN and public and private clouds alongside existing data centers, offices, and branches. Its range of services...



GTT Communications, a major global cloud networking provide

Monday, February 26, 2018

GTT's acquisition of Interoute would add 72K km of European fiber to its transatlantic cables

GTT Communications agreed to acquire Interoute, operator of one of Europe’s largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash.

Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities.  Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.

Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).

Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.

GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.

In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe. Following our successful, proven acquisition model, we expect to complete this integration within three to four quarters postclose and achieve a post-synergy multiple of seven to eight times Adjusted EBITDA or better on a pro forma basis.”

“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”


GTT acquires Amsterdam-based Custom Connect



GTT has acquired Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving multinational enterprises and financial trading firms. Financial terms were not disclosed. Custom Connect, which was founded by Olav van Doorn and Jan Willem Meijer, operates a carrier-neutral MPLS/IP network that integrates SD-WAN and public and private clouds alongside existing data centers, offices, and branches. Its range of services...



GTT Communications, a major global cloud networking provider serving multinational clients, announced an agreement with Jisc, the provider of digital solutions for the UK research and education community and operator of the Janet network for the delivery of Internet services.Under the agreement, GTT will provide high-speed Internet services for the Janet network to support the research and learning of its approximately 18 million UK college and university...


GTT to Acquire Global Capacity, Building its SD-WAN



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. Global Capacity, which is based in Waltham, Mass., addresses a range of enterprise network issues including difficulty in load sharing traffic across a mix of access connections, complex, static and manual network configurations...


GTT acquires Perseus for $37.5m



GTT Communications based in McLean, Virginia, a global cloud networking provider to multinational clients, announced the acquisition of Perseus, a provider of high-speed network connectivity that serves major financial and e-commerce companies worldwide.GTT stated that the purchase price for Perseus was $37.5 million, plus the assumption of approximately $3 million in capital leases. GTT anticipates that the purchase price will rep