We thank our employees and clients for their loyalty and expect a seamless integration with GTT over the upcoming months. “GTT gains an expansive global network footprint and world-class clients. “This transaction provides strategic benefit to both client bases as well as our organizations,” said Jock Percy, Perseus chief executive officer. “We look forward to serving our new clients with simplicity, speed and agility.” “The acquisition of Perseus demonstrates our commitment to connecting people – across organizations and around the world – by strengthening our low latency service offerings and accelerating our expansion into key high growth financial markets,” said Rick Calder, GTT president and CEO. GTT expects that the purchase price will reflect a multiple of post-synergy adjusted EBITDA of 5.0x or lower, with integration and cost synergies to be achieved within two quarters.
#Gtt buys inetwork plus
The purchase price was $37.5 million, plus the assumption of approximately $3 million in capital leases. It also increases GTT’s client base, adding clients in the financial service and eCommerce segments and it reinforces GTT’s market leadership in ultra-low latency services and augments cloud networking portfolio with financial market data services. Responsible for working on and managing buy-side and sell-side financial and accounting due diligence engagements for. This strategic combination extends the reach of GTT’s global Tier 1 IP backbone with new points of presence and routes connecting key markets in Latin America, Asia Pacific, India, and South Africa, including Pacific Express, the new low latency route between Chicago and Tokyo. If interested in obtaining these datasets, call (800) 277-2172.MCLEAN, VA - GTT Communications, a global cloud networking provider to multinational clients, announced today the acquisition of Perseus, a provider of high-speed network connectivity serving many of the world’s top financial and eCommerce companies. GeoTel Communications, LLC, provides fiber network maps that help businesses visualize telecom data and locate fiber for predictive analytics and location-based intelligence. 16 On October 7, 2016, GTT announced the award of Government Services Administrations (GSA) IT Schedule 70 Contract. 15 On February 9, 2016, GTT acquired Telnes Broadband for 18 million. This agreement will provide us with additional resources to drive further innovation in our unified communications and cloud offerings and leverage our existing leadership on the communications and security front to build a dominant cloud business.” (SOURCE: ). On October 22, 2015, GTT acquired One Source Networks (OSN), a provider of data, Internet, Session Initiation Protocol (SIP) trunking and managed services. After receiving approval from regulatory agencies, it is expected this deal will close on April 1, 2015.Īccording to Craig Young, Executive Chairman of MegaPath, “This agreement with GTT is the second of two strategic initiatives that further our strategy of becoming a leading global cloud communications provider.
![gtt buys inetwork gtt buys inetwork](https://i.ytimg.com/vi/5rUHpIlZL0Y/maxresdefault.jpg)
![gtt buys inetwork gtt buys inetwork](https://images-eu.ssl-images-amazon.com/images/I/91Pre8kXSFL.png)
For example, it has generated nearly $124 Million on a recurring revenue basis, with adjusted Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $20 Million.
![gtt buys inetwork gtt buys inetwork](https://miro.medium.com/max/1400/1*7qh5ucb4KVyRPLnnO1vrBw.gif)
The Managed Service business at MegaPath has always been profitable. increased by one gear Answer (1 of 2): I personally bought a older car to. In turn, these new customers will gain access to GTT’s much broader global footprint, which includes a market of 56 major metropolitan areas in the United States, and over 300 markets worldwide. With this deal, GTT will acquire at least 500 brand new customers, from which it can quickly cross sell its other telecom and IT based services. Under the terms of the deal, GTT will purchase this business unit from MegaPath at a value of $144.8 Million in cash and $7.5 Million in MegaPath common stock. This is part of our digital strategy where we are effectively taking fibre network assets in Asia, Europe and the US, with the intention of growing them, said. MegaPath is also a leading cloud communications company, with services in telecom, Voice over Internet Protocol, Unified Communications, Hosted IT, as well as Secure Data Networking. Just this week, GTT announced that it has reached an acquisition deal with MegaPath’s Managed Service business.