GTT Communications continued its buying spree by snapping up North Carolina-based service provider Access Point for $40 million.
GTT is paying $35 million in cash and $5 million in stock to pick up Access Point. GTT will tuck Access Point's complementary broadband, internet and voice capabilities into its cloud networking fold.
“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” said Rick Calder, GTT president and CEO, in a prepared statement. “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, which is based in Cary, North Carolina, also has U.S. enterprise customers across various verticals—including retail, manufacturing and energy—that bring upsell opportunities to GTT. Access Point has new partner relationships in the indirect channel that complements GTT's expanding presence in the channel marketplace.
GTT has been quite active in building its footprint through its M&A activities, with more than 30 deals to date. Calder said in a previous interview with FierceTelecom that acquisitions both large and small were still on the table for his company.
McLean, Virginia-based GTT announced in February that it was buying Interoute, one of Europe’s largest independent fiber networks and cloud networking platforms, for $2.3 billion in cash. That deal closed on May 31 and GTT has moved ahead with the integration of Interoute.
In March, GTT bought Accelerated Connections, a Toronto-based provider of managed networking, voice-over-IP and colocation services, in order to expand its footprint into Canada. Those deals followed on the heels of buying Hibernia Networks, Perseus, Global Capacity and Transbeam last year.