#GTT AQUIRES INETWORK FULL#

GTT connects people across organizations, around the world and to every application in the cloud. Gautam Bhandari, Managing Partner, I Squared Capitalġ The total consideration includes an upfront cash payment of $2.02 billion at closing and total deferred payments of up to $130 million based on certain financial results. Morgan Stanley acted as financial advisor and Rothschild as debt advisor to I Squared Capital, with Solon acting as commercial and technical advisor, KPMG as tax and accounting advisor, Linklaters as legal advisor and Latham & Watkins as borrower’s counsel. The acquisition is expected to close, subject to satisfying all required regulatory approvals and contingencies included in the agreement, during the first half of 2021.Ĭredit Suisse and Goldman Sachs are the financial advisors and Goodwin Proctor LLP is acting as legal advisor to GTT on this transaction.

#GTT AQUIRES INETWORK FULL#

Offering a full suite of telecom and data infrastructure solutions to marquee clients.Fourteen Tier 3 data centers and over 100 colocation facilities.Three transatlantic subsea cables, including GTT Express, the lowest latency route between Europe and North America.A 103,000 route kilometer fiber network with over 400 points of presence, spanning 31 metro areas and interconnecting 103 cities across Europe and North America.The infrastructure division sale consists of selected network and data center assets accumulated from several GTT acquisitions, including Interoute, Hibernia, and KPN International, that comprise: This acquisition builds upon I Squared Capital’s overarching global digital infrastructure strategy and experience with complex carve-outs to expand the reach of our platforms across Asia, Europe and North America.” Gautam Bhandari, managing partner at I Squared Capital stated, “Now more than ever, digital infrastructure is an essential asset class as societies across the globe rely heavily on high-speed digital bandwidth. “The deal enables GTT to reinforce its capex light business model as well as its cloud networking focus and will benefit both enterprise and infrastructure clients alike.” “The divestment of the highly differentiated infrastructure division assets will ensure greater focus on network investment and development of high-speed infrastructure services under the more specialized ownership of this experienced investor,” commented Ernie Ortega, GTT CRO and interim CEO. GTT provides a comprehensive portfolio of cloud networking services over its global Tier 1 IP network that includes traditional and software-defined wide area networking, global SIP trunking, advanced solutions, security and internet services. 1 The infrastructure division consists of GTT’s business and activities of providing Pan-European, North American, sub-sea and trans-Atlantic fiber network and data center infrastructure services to customers. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today that the company has signed a definitive purchase agreement to sell its infrastructure division to I Squared Capital, an independent global infrastructure investment firm, for $2.15 billion. Environmental, Social & Governance (ESG).The deal enables GTT to reinforce its capex light business model as well as its cloud networking focus and will benefit both enterprise and infrastructure clients alike.

“The divestment of the highly differentiated infrastructure division assets will ensure greater focus on network investment and development of high-speed infrastructure services under the more specialized ownership of this experienced investor. Offering a full suite of telecom and data infrastructure solutions to marquee clients.Įrnie Ortega, GTT CRO and interim CEO, GTT CommunicationsĮrnie Ortega, GTT CRO and interim CEO, GTT Communications said,.Selected network and data center assets include:

The acquisition is expected to close in the first half of 2021. The division consists of GTT’s business and activities of providing Pan-European, North American, sub-sea, and trans-Atlantic fiber network and data center infrastructure services. Global cloud networking provider GTT Communications is selling its infrastructure division to an independent global infrastructure investment firm, I squared Capital, for $2.15 billion.

Gtt aquires inetwork