GTT makes strategic acquisition of KPN for €50m

GTT Communications has announced today a definitive purchase agreement to acquire KPN International, a division of KPN N.V. headquartered in Netherlands, for approximately €50 million in cash, on a cash and debt-free basis. KPN International operates a global IP network serving enterprise and carrier clients.

The strategic acquisition will augment scale and network reach, adding depth to GTT’s Tier 1 global IP network in Europe across 21 countries, including long-haul fibre routes and metro rings in Frankfurt, London, Amsterdam and Paris.

The deal will also add more than 400 strategic enterprise and carrier clients. GTT will be the preferred international network supplier for an additional 400 clients retained by KPN.

“The acquisition of KPN International deepens our market presence in the European region,” said Rick Calder, GTT president and CEO. “The world-class resources contributed from this acquisition, including a highly experienced team, international network assets and a deep roster of multinational clients, will help us deliver on our purpose of connecting people across organisations around the world and to every application in the cloud.”

The acquisition is expected to close in the third quarter 2019 subject to obtaining the required regulatory approvals.

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David Dungay

Editor - Comms Business Magazine