With this agreement:
- GTT significantly increases scale by expanding its Tier 1 global IP network with one of the most extensive fiber networks in Europe. The network includes more than 400 points of presence, covering 24 metropolitan areas and interconnecting 126 cities in 29 countries.
- GTT reinforces its leading position in software-defined wide area networks (SD-WAN) with expanded capabilities.
- GTT adds 15 data centers, 17 virtual data centers, and 51 colocation facilities, enhancing its cloud connectivity platform.
- GTT contributes infrastructure, edge, and hosted services to its suite of cloud networking services.
- GTT expands and complements its multinational customer base by adding more than 1,000 strategic enterprise and operator customers, primarily based in Europe.
- GTT's global team is strengthened with a world-class sales, operations, and customer service organization.
“The acquisition of Interoute represents a significant milestone in achieving our purpose of connecting people, across all organizations, around the world,” said Rick Calder, president and CEO of GTT. “This combination creates a disruptive market leader with substantial scale, unique network assets, and award-winning product capabilities to meet our customers’ growing demand for distributed cloud networks in Europe, the US, and around the world. Following our successful and proven acquisition model, we expect to complete this integration within three to four quarters after closing and achieve a post-synergy multiple of seven to eight times Adjusted EBITDA or better on a pro forma basis.”.
"This is the next exciting chapter for Interoute, GTT, our customers, and our team," said Gareth Williams, CEO of Interoute. "The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity and innovative cloud and edge infrastructure services to help our customers thrive in the global digital economy.".
Interoute has received strong support from its shareholders, the Sandoz Family Foundation, Aleph Capital and Crestview Partners, in its strategy to build and consolidate the European fiber, cloud and connectivity markets to create a large-scale player with an international presence.
