GTT GTT 2,48 -0,11 -4,25% continues its recent buying spree, following the purchase of Perseus last week. This week, it announces it’s intent to buy Global Capacity. Global Capacity provides connectivity as a service that connects enterprises to high value cloud and business destinations. Like GTT, it uses VeloCloud as it’s SD-WAN strategy. GTT expect that with these recent acquisitions, they will reach their financial objective of $1 billion in revenue and $250 million in Adjusted EBITDA.
“This transaction further advances the breadth, depth and ease of deploying connectivity services for our customers. GTT’s global network reach and extensive portfolio of managed services are a compelling complement to our connectivity platform, resulting in substantial benefits for our carrier and enterprise customers.” – Jack Lodge, President, Global Capacity.
Pivotal Group currently own Global Capacity, and receive $100 million in cash and 1.85 million shares of GTT common stock. Pivotal also own Network Solutions, the DNS and Web Hosting provider, along with their real-estate portfolio.
“With this agreement, we are combining two highly complementary organizations with closely aligned core values and operating strategies. This combination creates one of the most innovative global cloud networking companies in the industry.” – F. Francis Najafi, founder and CEO, Pivotal Group