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GTT buys Global Capacity for USD 100 mln, plus shares
2017-06-27 08:53:00| Telecompaper Headlines
(Telecompaper) Cloud networking provider GTT Communications (GTT) has agreed to buy Global Capacity, a provider of network connectivity systems aimed at helping companies connect to cloud and business destinations, for USD 100 million in cash and 1.85 million GTT shares. The acquisition is expected to close by the end of third quarter, subject to the usual regulatory approvals and closing conditions. GTT will fund the cash portion of the deal with funds from the debt offering completed in May. After integration, GTT CEO Rick Calder expects the combined company will achieve the company's previously announced financial objective of USD 1 billion in revenue and USD 250 million in adjusted EBITDA.
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Category:Telecommunications