A group of investors, led by Aleph Capital Partners LLP and Crestview Partners, has committed to invest $175 million in GTT common stock at the closing of the acquisition of Interoute by GTT.
“Aleph and Crestview’s investment is a strong vote of confidence in our vision to create a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for cloud networking services in Europe, the U.S. and across the globe,” said Rick Calder, GTT president and CEO.
GTT's acquisition of Interoute would add 72K km of European fiber to its transatlantic cables
Interoute's European fiber backbone spans 72,000 route kilometers connects nearly 200 data centres and colocation facilities. Interoute also owns 15 of its own data centers and 33 colocation facilities. Its customers include international enterprises, as well as the world’s major service providers, ICPs and OTT providers. The company also operates 18 Interoute Virtual Data Centres (VDCs) globally, including three in Asia-Pacific, which are tied into its fiber backbone. In October 2017, Interoute launched its "Edge SD-WAN" service.
Interoute offers transport services (wavelength, Carrier Ethernet, managed bandwidth, storage connect, IP transit, cloud connect) and infrastructure services (dark fiber and data center colocation).Interoute reported revenues of €718 million and adjusted EBITDA of €165 million for the 12 months ending September 30, 2017.
GTT said the merger contributes significant infrastructure, edge and hosted services to its network, as well as over 1,000 strategic enterprise and carrier clients, primarily headquartered in Europe.In January 2017, GTT acquired Hibernia Networks and its five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations, new global points of presence, and key clients in the financial services, media and entertainment, web-centric and service provider segments.
