Rick Calder, GTT
McLean, Va. - GTT Communications, the cloud networking provider, has announced the completion of its acquisition of Hibernia Networks, a provider of network connectivity solutions and owner of terrestrial and subsea fiber assets.
Rick Calder, GTT president and CEO said: "The transaction expands GTT's top five global IP network, adds products to our cloud networking portfolio and provides a strong recurring revenue base via established relationships with multinational clients."
The acquisition delivers the following assets:
- Five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations
- New global points of presence, expanding GTT's Tier 1 IP network to over 300 in total
- Optical and low latency transport, video and CDN services
- Key relationships with marquee clients, specifically within the financial services, media and entertainment, web-centric and service provider segments
GTT expects to complete the integration of Hibernia Networks within two to three quarters after closing.