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GTT Completes Acquisition of Global CapacityGTT Communications, Inc. (NYSE:GTT), the leading global cloud networking provider to multinational clients, announced today the completion of its acquisition of Global Capacity (News - Alert), a provider of networking services connecting enterprises to high-value cloud and business destinations. The addition of Global Capacity:
The purchase price consists of $100 million in cash and 1.85 million shares of GTT common stock, which was issued to the sellers at closing. GTT funded the cash portion of the transaction with the proceeds from the debt offering completed in May. GTT expects to complete the integration of Global Capacity within two to three quarters after closing and upon integration, to achieve its previously announced, next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA. About GTT GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including optical transport, wide area networking, internet, managed services, voice and video services. The company's Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud. GTT delivers an outstanding client experience by living its core values of simplicity, speed and agility. For more information on how GTT is redefining global communications, please visit www.gtt.net.
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