GTT Completes Acquisition of Interoute

GTT Communications, Inc. (NYSE: GTT), announced today the completion of its acquisition of Interoute, operator of one of Europe’s largest independent fiber networks.

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people across organizations, around the world and to every application in the cloud,” said Rick Calder, GTT president and CEO. “Our enhanced scale, expanded network footprint and award-winning product capabilities reinforce our position as a global leader in cloud networking. We look forward to bringing the benefits of this acquisition to our valued clients across the world.”

The addition of Interoute:

• Significantly augments scale, expanding GTT’s Tier 1 global IP network with one of Europe’s most extensive fiber footprints;
• Creates the most comprehensive and competitive global cloud networking platform in the industry;
• Adds a large base of marquee multinational clients, balanced across geographies and verticals, with very high levels of recurring revenue;
• Strengthens GTT’s leadership in software-defined wide area networking (SD-WAN); and
• Enhances GTT’s global team with a world-class sales, operations and customer service organization.

GTT expects to complete the integration of Interoute within three to four quarters after closing.

Source: GTT press release