GTT GTT 2,48 -0,11 -4,25% has announced it is acquiring Perseus, who own a high-speed network covering the Americas, Europe, South Africa, and major hubs in Asia. This will add major routes to GTT’s network. This includes the low-latency Pacific Express cable route between Chicago and Tokyo.
Perseus was purchased for $37.5 million, plus approximately $3 million in capital leases. GTT expects to achevie synergies of cost and integration within 6 months.
“The acquisition of Perseus demonstrates our commitment to connecting people – across organizations and around the world – by strengthening our low latency service offerings and accelerating our expansion into key high growth financial markets. We look forward to serving our new clients with simplicity, speed and agility.” – Rick Calder, President and CEO, GTT
“This transaction provides strategic benefit to both client bases as well as our organizations. GTT gains an expansive global network footprint and world-class clients. We thank our employees and clients for their loyalty and expect a seamless integration with GTT over the upcoming months.” – Jock Percy, CEO, Perseus