GTT Completes PacketExchange Acquisition

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Global Telecom & Technology Inc. (GTT) has completed its purchase of U.K.-based PacketExchange.

The deal, announced in May, was valued at $20 million.

GTT is a global carrier and network integrator that targets large enterprise, government and carrier clients. PacketExchange supplies private network services, including Ethernet, peering, and content and applications delivery. PacketExchange recently joined the Telx Ethernet exchange.

GTT said it now has greater scale and more than 1,200 customers worldwide. The company is adding network assets in North America, Europe and Asia as a result of the PacketExchange transaction, and is expanding its data services to include collaborative and cloud networking, among others.

“We are excited with the rapid progress in closing and integrating the PacketExchange acquisition," Rick Calder, GTT’s president and CEO, said in a press release. “The combination advances our growth strategy to scale the business globally through both organic growth and strategic acquisitions."

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