GTT is continuing down its acquisitive path, announcing a deal to acquire Toronto-based Accelerated Connections (ACI) in a bid to expand the service provider’s Canadian network and market presence.
What’s significant about GTT’s acquisition of ACI is that it will create a large nonincumbent network footprint in the Canadian market to challenge the stronghold Bell Canada and Telus have in the business market.
The service provider can also extend some of its unique network assets in Canada, including its low-latency landing station for GTT Express, a transatlantic cable system.
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Besides enhancing its network presence, ACI will contribute complementary connectivity, VoIP and managed service offerings to GTT’s cloud networking service portfolio. It also adds more customers in key vertical markets, including hospitality, retail and financial services.
With an eye toward global expansion, the acquisition of ACI will give GTT an immediate large presence in Canada that it can join up with its ongoing movement into other regions like Europe.
“ACI’s deep experience in delivering cloud networking services to distributed enterprises in Canada significantly expands GTT’s global presence,” said Rick Calder Jr., GTT president and CEO, in a release.
As it has done with other smaller acquisitions, GTT said it will reveal the financial terms of the ACI acquisition with its first-quarter 2018 results.
This is the second acquisition GTT has announced in 2018. In February, GTT advanced its European and global cloud-and-fiber services markets by inking a deal to acquire Interoute for $2.3 billion in cash.