**Editor’s Note: Please click here for a recap of the biggest channel-impacting merger and acquisition news from April.**
The purchase is for $100 million in cash and includes 1.85 million shares of GTT stock. It is expected to close in the third quarter.
GTT says the deal will grow its customer base to reach clients in health care, retail, carrier and application services. The deal will also bring GTT’s footprint to 9.6 million commercial addresses and 41 data centers.
Buying Global Capacity will also give partners and customers new ways to use GTT’s managed SD-WAN service — one being Ethernet over copper.
GTT CEO Rick Calder says the integrated company will aim for $1 billion in revenue and $250 million in profit.
“GTT gains new marquee clients, enhanced network reach and scale, and a great team of employees to drive outstanding client experience, through our core values of simplicity, speed and agility,” Calder said.
And that scale will include a much larger portfolio for GTT partners.
“The augmented scope of our products and services, combined with the increased diversity of broadband options and increased scale, will provide our partners with a more comprehensive and highly competitive service offering,” Gina Nomellini, chief marketing officer, told Channel Partners.
Global Capacity President Jack Lodge says his company’s channel partners will not see a change in their experience with the company. He tells us that the combination of GTT’s Tier 1 IP Network and Global Capacity’s “diverse access connectivity” will help create a leader in the cloud networking market.
“For Global Capacity’s channel partners, this acquisition will expand the reach and scale of options available to them to help solve connectivity challenges for multinational enterprises,” he said. “We are enthusiastic about GTT’s portfolio of networking and managed service offerings that will provide more connectivity options for partners, in particular GTT’s robust managed services portfolio including security and voice will only broaden Global Capacity’s leadership position in SD-WAN deployments.”
It’s been a busy year of acquisitions for GTT, which last fall announced plans to buy Hibernia Networks and boost its global network with Hibernia’s fiber services.
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December 14 2018 @ 18:50:05 UTC