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Expands market presence in Europe
GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today the completion of its acquisition of KPN International, a division of KPN N.V. headquartered in the Netherlands, which operates a global IP network serving enterprise and carrier clients.
This strategic combination:
“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 paid approximately €50 million in cash, on a cash and debt-free basis, to complete the transaction, and will continue to evaluate options to optimize the GTT capital structure, including various and opportunistic financing and refinancing options.
GTT connects people across organizations, around the world and to every application in the cloud. Our clients benefit from an outstanding service experience built on our core values of simplicity, speed and agility. GTT owns and operates a global Tier 1 internet network and provides a comprehensive suite of cloud networking services. For more information on GTT (NYSE: GTT), please visit www.gtt.net.
About KPN International
KPN International is a telecommunications and IT provider, serving both Dutch and international customers with its connectivity and value-added services. KPN International offers its services to small-, medium- and large-size business customers and wholesale customers worldwide. KPN International is part of Royal KPN, a leading telecommunications and IT provider and market leader in the Netherlands, serving both consumer and business customers with its fixed and mobile networks for telephony, broadband and television.
GTT Media Inquiries:
Marion Janic, RooneyPartners
Bob Cavosi, RooneyPartners
GTT Investor Relations:
Jody Burfening/Carolyn Capaccio, LHA