GTT Communications, Inc. (NYSE: GTT) announced that it has completed its acquisition of European fiber-optic network services provider Interoute to improve scale, expanding its Tier 1 global IP network with an expansive fiber footprint in Europe. The deal adds a large marquee international client base spread throughout geographies and verticals with high recurring revenue levels, establishing GTT's position as a software-defined wide area networking (SD-WAN) leader, says the company.
In February of this year, the U.S.-based network services provider announced an agreement to purchase Interoute for nearly €1.9 billion ($2.3 billion) in cash through debt financing (see "GTT Communications to buy Europe's Interoute for $2.3 billion"). With an advanced sales, operations, and customer service organization, its integration of Interoute creates a worldwide, aggressive cloud networking platform in the industry.
Interoute operates a 72,000-km fiber network, including over 400 points of presence (PoPs) in 24 metro areas, connecting 126 cities throughout 29 countries.
"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."
With the deal closed, GTT expects the integration of Interoute to be complete within three to four quarters. The acquisition follows a series of GTT expansions, including deals for Custom Connect, Perseus, Global Capacity, and Hibernia Networks.
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