GTT closes Infrastructure Division sale, buyers rename it EXA Infrastructure

Sept. 20, 2021
I Squared Capital has renamed its new assets EXA Infrastructure; the assets include pan-European, North American, and submarine fiber cable networks as well as data center assets and associated infrastructure services.

GTT Communications, Inc. (OTC: GTTN) says it has closed the previously announced $2.15 billion sale of its infrastructure division to I Squared Capital (see "GTT Communications to sell infrastructure division to I Squared Capital"). I Squared has renamed its new assets EXA Infrastructure; the assets include pan-European, North American, and submarine fiber cable networks as well as data center assets and associated infrastructure services.

“This is a major milestone for GTT as we move away from infrastructure ownership and maintenance to deepen our focus on serving the global enterprise market with a full array of cloud networking and managed solutions that include SD-WAN, security, internet, voice and other vital telecommunication services that enable digital business,” stated Ernie Ortega, GTT CEO. “We have a great team of employees and a company culture that is responsive to the needs of our customers, coupled with an industry-leading internet backbone and a product roadmap aligned to trending market demand. I am confident that our sharper strategic focus will enable us to better serve our customers.”

The new EXA includes a variety of networks GTT had acquired over the years. These include Interoute, Hibernia, and KPN International. At the time the deal was announced last October, the two companies estimated the assets covered 103,000 route-km and included more 400 points of presence in 31 metro areas with interconnects in 103 cities across Europe and North America. EXA also will have 14 Tier 3 data centers and over 100 colocation facilities.

Martijn Blanken, formerly of Telstra, will serve as EXA’s CEO.

“The differentiated fiber and data center assets acquired through this purchase from GTT are a valuable addition to our global digital infrastructure investments,” said Gautam Bhandari, Managing Partner at I Squared Capital. “We are excited about the opportunity to invest and build on this rich set of digital infrastructure capabilities to serve the increasing market demand for high performance networks. We welcome the talented team from GTT to EXA Infrastructure, the newly named independent operating company.”

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About the Author

Stephen Hardy | Editorial Director and Associate Publisher, Lightwave

Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.

Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.

He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.

You can connect with Stephen on LinkedIn as well as Twitter.

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