GTT Completes Acquisition of KPN International
December 02 2019 - 3:00AM
Business Wire
Expands market presence in Europe
GTT Communications, Inc. (NYSE: GTT), a leading
global cloud networking provider to multinational clients,
announced today the completion of its acquisition of KPN
International, a division of KPN N.V. headquartered in the
Netherlands, which operates a global IP network serving enterprise
and carrier clients.
This strategic combination:
- 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.
- Complements GTT’s comprehensive portfolio of cloud networking
services with wide area networking, internet and transport
services, and adds depth to GTT’s global Tier 1 IP network in
Europe across 21 countries.
- Contributes a sales, operations, service delivery and client
service organization, with a proven track record of delivering
outstanding client experience.
“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.”
GTT paid approximately €50 million in cash, on a cash and
debt-free basis, to complete the transaction, and will continue to
evaluate options to optimize the GTT capital structure, including
various and opportunistic financing and refinancing options.
About GTT
GTT connects people across organizations, around the world and
to every application in the cloud. Our clients benefit from an
outstanding service experience built on our 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. For more information on GTT (NYSE: GTT),
please visit www.gtt.net.
About KPN International
KPN International is a telecommunications and IT provider,
serving both Dutch and international customers with its
connectivity and value-added services. KPN International offers its
services to small-, medium- and large-size business customers and
wholesale customers worldwide. KPN International is part of Royal
KPN, a leading telecommunications and IT provider and market leader
in the Netherlands, serving both consumer and business customers
with its fixed and mobile networks for telephony, broadband and
television.
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version on businesswire.com: https://www.businesswire.com/news/home/20191202005214/en/
GTT Media Inquiries: Marion Janic, RooneyPartners
+1-212-223-4017 mjanic@rooneyco.com Bob Cavosi, RooneyPartners
+1-646-638-9891 rcavosi@rooneyco.com GTT Investor Relations:
Jody Burfening/Carolyn Capaccio, LHA +1-212-838-3777
ccapaccio@lhai.com
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