GTT to acquire KPN International
GTT Communications one of the leading global cloud networking provider to multinational clients announced 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 an 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.
GTT connects people across organisations, around the world and to every application in the cloud. Their clients supposedly benefit from an outstanding service experience built on 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.