**Editor’s Note: Please click here for a recap of the biggest channel-impacting merger and acquisition news from August.**
GTT announced in June that it was buying the networking-connectivity provider in a move that would grow its customer base, expand its verticals and give it more data centers. The acquisition also cost 1.85 million shares of GTT stock.
“This transaction accelerates GTT’s growth strategy and advances our commitment to connecting people across organizations and around the world,” said Rick Calder, GTT president and CEO. “Our combined client base will benefit from an expanded and talented team that is focused on delivering superior client service by living GTT’s core values of simplicity, speed and agility.”
GTT, the McLean, Virginia-based networking provider, says the purchase helps in three areas. GTT gains new clients, particularly in the health care, carrier, retail and application service provider verticals. Global Capacity brings new access capabilities that support GTT’s SD-WAN offering, which include on-net Ethernet through copper. Lastly, GTT increases to 10 million commercial addresses and 41 data centers.
The companies expect to complete their integration in two to three quarters. They will aim for $1 billion in revenue once the integration is complete.
Global Capacity President Jack Lodge told Channel Partners in June that his partners will have the same experience as before, except for getting access to GTT’s Tier 1 IP Network.
“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.”
Global Capacity is based in Waltham, Massachusetts, and has been in business since 2000.
Read the original news of the acquisition.
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October 15 2019 @ 16:33:31 UTC