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We thank our employees and clients for their loyalty and expect a seamless integration with GTT over the upcoming months. The infrastructure division consists of what GTT called selected network and data centre assets accumulated from several GTT acquisitions, including Interoute, Hibernia and KPN International. “GTT gains an expansive global network footprint and world-class clients. This is part of our digital strategy where we are effectively taking fibre network assets in Asia, Europe and the US, with the intention of growing them, said. “This transaction provides strategic benefit to both client bases as well as our organizations,” said Jock Percy, Perseus chief executive officer. “We look forward to serving our new clients with simplicity, speed and agility.” “The acquisition of Perseus demonstrates our commitment to connecting people – across organizations and around the world – by strengthening our low latency service offerings and accelerating our expansion into key high growth financial markets,” said Rick Calder, GTT president and CEO. GTT expects that the purchase price will reflect a multiple of post-synergy adjusted EBITDA of 5.0x or lower, with integration and cost synergies to be achieved within two quarters.
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The purchase price was $37.5 million, plus the assumption of approximately $3 million in capital leases. It also increases GTT’s client base, adding clients in the financial service and eCommerce segments and it reinforces GTT’s market leadership in ultra-low latency services and augments cloud networking portfolio with financial market data services.
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This strategic combination extends the reach of GTT’s global Tier 1 IP backbone with new points of presence and routes connecting key markets in Latin America, Asia Pacific, India, and South Africa, including Pacific Express, the new low latency route between Chicago and Tokyo. The company purchased transatlantic submarine network operator Hibernia Networks last November.MCLEAN, VA - GTT Communications, a global cloud networking provider to multinational clients, announced today the acquisition of Perseus, a provider of high-speed network connectivity serving many of the world’s top financial and eCommerce companies.
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GTT has more aggressively pursued expansion through acquisition in the past year. “We look forward to serving our new clients with simplicity, speed, and agility.” With this deal, GTT will acquire at least 500 brand new customers. “The acquisition of Perseus demonstrates our commitment to connecting people across organizations and around the world 鈥� by strengthening our low latency service offerings and accelerating our expansion into key high growth financial markets,” said Rick Calder, GTT president and CEO. The company operates a Tier 1 network and also provides IP Transit and Multiprotocol. US-based GTT Communications shares reached a record high after it announced a 2.3bn (1.9bn) deal to buy Interoute, the European operator of fibre and cloud networking platforms. GTT expects that the purchase price will reflect a multiple of post-synergy adjusted EBITDA of 5.0X or lower, with integration and cost synergies to be achieved within two quarters. The new routes include Pacific Express, the new low-latency route between Chicago and Tokyo. The additional footprint includeskey markets in Latin America, Asia Pacific, India, and South Africa. In addition to providing access to new customers in financial service and e-commerce, the addition of Perseus will add new points of presence and routes to the GTT’s global Tier 1 IP backbone. (NYSE: GTT), has announced a definitive agreement to acquire Hibernia Networks - a provider of global GTT Expands Cloud Networking Services, Buys Hibernia Networks for 590 Million.
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GTT says it paid $37.5 million for its new assets, plus the assumption of approximately $3 million in capital leases. Global cloud networking provider, GTT Communications, Inc. (NYSE:GTT) has purchased Perseus, which provides high-speed network connectivity to customers that include financial and e-commerce companies. Cloud networking services provider GTT Communications, Inc.