[November 04, 2009] Global Telecom & Technology to acquire WBS Connect Tweet Nov 04, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Global Telecom & Technology, Inc. (GTT), a network integrator that provides a portfolio of wide area network and mobility services, has signed a definitive agreement to acquire WBS Connect, LLC, a provider of high bandwidth IP and wide area networking services. Both the companies are based in the US. Under the terms of the agreement, the total consideration consists of 500,870 shares of GTT common stock to be issued over 18 months beginning six months after the transaction closes, $1.8 million in cash and seller notes and the assumption of WBS liabilities and working capital. GTT is planning to finance the acquisition with existing cash, available debt and a share issuance. The transaction is expected to close by the end of 2009. Deal Value (US$ Million) 2.32 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2009-11-03 Deal Participants Target (Company) WBS Connect, LLC Acquirer (Company) Global Telecom & Technology, Inc. Deal Rationale The acquisition will expand the portfolio of IP transit and ethernet services of GTT. The addition of WBS Connect's product set, customer base, and IP network will provide significant opportunities for long-term growth, further operational leverage and value creation for GTT global telecom business. GTT will be able to realize sizeable economies of scale through this acquisition. [ Back To TMCnet.com's Homepage ]