GTT closes KPN International acquisition

The addition of KPN International adds more than 400 enterprise and carrier clients to its roster as well as infrastructure that crosses 21 countries.

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GTT Communications, Inc. (NYSE: GTT) says it has closed the acquisition of KPN International, a division of KPN N.V., it announced this past July (see “GTT to buy KPN International for €50 million cash”). GTT paid approximately €50 million (approximately $56 million) in cash for the assets, on a cash and debt-free basis.

The addition of KPN International adds more than 400 enterprise and carrier clients to its roster as well as infrastructure that crosses 21 countries. That includes metro networks in such cities as Frankfurt, London, Amsterdam and Paris. The company also will serve as the preferred international network supplier for what GTT terms “several hundred” additional clients KPN will retain.

“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 adds that it will continue to seek ways to “optimize the GTT capital structure.” Such roads may include what the company termed “various and opportunistic financing and refinancing options.”

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