GTT Communications, Inc. (NYSE: GTT) has extended its recent string of acquisitions with the announcement that it has closed a cash-and-stock deal to buy Access Point, a communication services provider headquartered in Cary, NC. GTT paid an aggregate $40 million for its new assets, with $35 million of the total in cash and the remainder coming via 115,194 shares of stock valued at $5 million.
“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” said Rick Calder, GTT president and CEO. “We expect a rapid integration as we work with our new clients to deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”
Access Point provides managed broadband, internet, and voice services to enterprise customers. The acquisition also brings new indirect channel partnerships, says GTT.
The deal is small compared to most of those GTT has closed since late 2016. The company has purchased submarine network owner/operator Hibernia Networks, Perseus, Europe’s Interoute, Custom Connect, and Accelerated Communications of Canada.
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