GTT Communications to acquire Interoute in $2.3bn deal
Leading US telecommunications provider GTT Communications has announced that it is set to buy Interoute, one of Europe’s largest fibre networks and cloud computing platforms, for approximately $2.3bn.
The acquisition will significantly strengthen GTT’s portfolio, with Interoute operating 70,000km of networks, spanning 29 different countries. This includes 15 data centres, 17 virtual data centres and 51 colocation facilities, enhancing the firm’s cloud connectivity platform.
“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfil our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe.”
“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”
The acquisition is expected to complete within the next four quarters.