GTT Completes Acquisition of KPN International
Expands market presence in EuropeMCLEAN, Va., December 2, 2019 — GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today the completion of its acquisition of KPN International, a division of KPN N.V. headquartered in the Netherlands, which operates a global IP network serving enterprise and carrier clients. This strategic combination: • Adds more than 400 strategic enterprise and carrier clients. GTT will also be the preferred international network supplier for several hundred additional clients retained by KPN. • Complements GTT’s comprehensive portfolio of cloud networking services with wide area networking, internet and transport services, and adds depth to GTT’s global Tier 1 IP network in Europe across 21 countries. • Contributes a sales, operations, service delivery and client service organization, with a proven track record of delivering outstanding client experience.
“The great client base contributed by this acquisition, combined with a talented group of employees, strengthens GTT’s presence in Europe,” said Rick Calder, GTT president and CEO. “We are pleased to welcome this blue-chip roster of clients from KPN International who can now access GTT’s expansive global network and comprehensive service portfolio, as we deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”GTT paid approximately €50 million in cash, on a cash and debt-free basis, to complete the transaction, and will continue to evaluate options to optimize the GTT capital structure, including various and opportunistic financing and refinancing options.