GTT Completes Acquisition of KPN InternationalGTT Completes Acquisition of KPN InternationalExpands 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:
“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. Source: GTT media announcement |