GTT Communications has acquired communication services provider Access Point, gaining a growing roster of strategic U.S. enterprise clients and deepening its presence in key verticals such as retail, manufacturing and energy.
GTT paid $40 million for Access Point, including $35 million in cash and $5 million in stock. GTT said Access Point’s complementary managed broadband, internet and voice capabilities will reinforce its market leadership in cloud networking.
“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” said Rick Calder, GTT’s president and CEO. “We expect a rapid integration as we work with our new clients to deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”
Access Point provides new partner relationships in the indirect channel, complementing GTT’s expanding presence in the channel marketplace. The acquisition creates “significant up-sell opportunities,” GTT said.
|Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.|
“With GTT, Access Point customers now have access to one of the industry’s largest Tier 1 global IP networks and a broad portfolio of cloud networking services backed by a commitment to providing outstanding service that mirrors our own,” said Richard Brown, Access Point’s CEO. “We value the loyalty of our customers, and we look forward to providing them an even more robust set of communication services as we integrate swiftly with GTT.”
GTT has acquired and successfully integrated more than 30 companies in the last 10 years, resulting in a revenue run rate approaching $1 billion. Among its other acquisitions this year, GTT purchased Interoute, a U.K.-based company known for its fiber network and cloud-networking solutions, and Accelerated Connections, a managed networking, VoIP and colocation service provider.