PRESS RELEASE — MCLEAN, Va. — January 9, 2017 GTT Communications, Inc.(NYSE: GTT), the leading global cloud networking provider to multinational clients, announced today the completion of its acquisition of Hibernia Networks, a leading provider of global, high-speed network connectivity solutions and owner of terrestrial and subsea fiber assets.
“The addition of Hibernia Networks advances GTT’s growth strategy,” stated Rick Calder, GTT president and CEO. “The transaction expands GTT’s top five global IP network, adds products to our cloud networking portfolio and provides a strong recurring revenue base via established relationships with multinational clients. Our clients will also benefit from a team with deep technical expertise and a proven track record of delivering exceptional client service.”
The acquisition delivers the following assets:
- Five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations
- New global points of presence, expanding GTT’s Tier 1 IP network to over 300 in total
- Optical and low latency transport, video and CDN services
- Key relationships with marquee clients, specifically within the financial services, media and entertainment, web-centric and service provider segments
GTT expects to complete the integration of Hibernia Networks within two to three quarters after closing.
GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide area networking, Internet, managed services and voice 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.