GTT Communications to acquire KPN International

GTT Communications, Inc. (NYSE:GTT), a leading global cloud networking provider to multinational clients, announced on Monday a definitive purchase agreement to acquire KPN International.

KPN International, a division of KPN N.V. headquartered in the Netherlands, is a telecommunications and IT provider which serves both Dutch and international customers. It will be acquired by GTT Communications for roughly €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 adds over 400 strategic enterprise and carrier clients. GTT said that it will be the preferred international network supplier for an additional 400 clients retained by KPN.

It will also increase 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.

The acquisition complements GTT’s 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,” Rick Calder, President and CEO of GTT Communications commented on the acquisition.

“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 President and CEO continued.

According to a company statement, the acquisition is set to close in the third quarter of 2019.

Shares in GTT Communications Inc (NYSE:GTT) were trading at -0.055% as of 16:02 GMT-4 Friday.

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