Rick Calder, GTT
McLean, VA - GTT Communications, the cloud networking provider, has announced a definitive agreement to acquire Global Capacity, a provider of network connectivity solutions.
"The acquisition of Global Capacity accelerates GTT's growth strategy and underscores our commitment to connecting people across organizations and around the world," said Rick Calder, GTT president and CEO. "GTT gains new marquee clients, enhanced network reach and scale, and a great team of employees to drive outstanding client experience, through our core values of simplicity, speed and agility. After integration, we expect to achieve our previously announced, next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA."
The purchase price consists of $100 million in cash and 1.85 million shares of GTT common stock, to be issued to the sellers at closing. The parties expect to close the transaction by the end of third quarter 2017, subject to certain regulatory approvals and other customary closing conditions.