GTT snaps up pieces of Global Capacity
Once again Global Telecom and Technology (GTT) is going to the asset store with its latest deal to acquire the customers and assets of Chicago-based Global Capacity.
GTT will pony up $8 million in cash for contracts with over 100 data transport customers that currently generate about $25 million in annualized revenue. Once it gets approval from Global Capacity's customers, related suppliers and regulators at the FCC, GTT says it will close the deal in Q1 2010.
As a customer base acquisition, GTT's president and CEO Rick Calder, says the addition of the Global Capacity assets fit in well with its strategy to scale its business. Of course, the question customers will have with this acquisition is what affect it will have on them? Since many of Global Capacity's customers are also existing GTT customers, GTT believes it will not only be able to quickly integrate them into its proprietary operational platform through its Circuit Management Database (CMD), but also ensure that there will be no service delays.
This is the second acquisition GTT has made in recent months. In December, GTT completed its acquisition of WBS Connect. Through the WBS Connect acquisition, GTT not only expands its IP and Ethernet portfolios, but it also gains 60 points of presence in major North American, Asian and European metro centers.
- see the release here
- Xchange also has this article
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