U.S.-based international telecommunications services provider GTT Communications, Inc. (NYSE: GTT) has agreed to acquire Amsterdam-based Custom Connect, a provider of high-speed network connectivity, to enhance its worldwide Tier 1 IP backbone with additional European and Middle Eastern points of presence (PoPs). GTT purchased Custom Connect for an undisclosed amount.
GTT has been focusing on connectivity improvement in the Middle East since it announced a partnership with Gulf Bridge International in 2016 (see "GTT, GBI partner for Middle East fiber network connectivity"). According to GTT, the Custom Connect acquisition will also increase GTT's sales presence in the Benelux region, as well as amplify GTT's ultra-low latency services portfolio with low latency service from Frankfurt to London, New York and Chicago.
Aligning with GTT's portfolio of cloud networking services, including Ethernet, IP, and SD-WAN, the acquisition will broaden GTT's base of global clients with strategic accounts.
"The acquisition of Custom Connect extends GTT's network and strengthens our service offerings in high growth financial markets," said Rick Calder, GTT president and CEO. "These enhanced capabilities reinforce GTT's market leadership in cloud networking and our commitment to connecting people – across organizations and around the world."
GTT is showing no signs of decelerating its pursuit of expansion through acquisition. The acquisition is the fourth GTT has made since November 2016 (see "GTT Communications buys network connectivity provider Perseus," "GTT continues fiber network expansion by acquisition with Global Capacity buy," and "GTT to buy Hibernia Networks for $590 million").
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