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MarketScreener Homepage  >  Equities  >  Nyse  >  GTT Communications, Inc.    GTT

GTT COMMUNICATIONS, INC.

(GTT)
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GTT Communications : Acquires Accelerated Connections

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03/12/2018 | 08:16am EDT

Expands Canadian network and market presence

GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, announced today the acquisition of Accelerated Connections (ACI), a Toronto-headquartered provider of managed networking, voice-over-IP (VoIP) and colocation services, serving large distributed Canadian enterprises.

The acquisition of ACI:

  • Creates one of the largest non-incumbent network footprints in the Canadian market
  • Extends GTT’s market presence and unique network assets in Canada, including its landing station for GTT Express, the lowest latency transatlantic cable system
  • Contributes complementary connectivity, VoIP and managed service offerings to GTT’s cloud networking service portfolio
  • Adds strategic clients in key vertical markets, including hospitality, retail and financial services

“ACI’s deep experience in delivering cloud networking services to distributed enterprises in Canada significantly expands GTT’s global presence,” said Rick Calder, GTT president and CEO. “This acquisition demonstrates our commitment to invest in assets and capabilities that enable us to deliver on our purpose of connecting people across organizations and around the world.”

“The combination of ACI and GTT creates a disruptive competitor in the Canadian market,” said Michael Garbe, ACI CEO. “Customers will benefit from access to GTT’s Tier 1 IP network, comprehensive service portfolio, global reach and deep experience in connectivity and managed services. We expect a rapid and smooth integration over the coming months.”

GTT will disclose financial terms of its acquisition of ACI with its first quarter 2018 results, consistent with its practice for smaller acquisitions.

Bank Street Group LLC served as adviser to Accelerated Connections on this transaction.

About GTT

GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including optical transport, wide area networking, internet, managed services, voice and video services. The company’s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud. GTT delivers an outstanding client experience by living its core values of simplicity, speed and agility. For more information on how GTT is redefining global communications, please visit www.gtt.net.

About Accelerated Connections

Accelerated Connections (ACI), headquartered in Toronto, serves more than 1,600 distributed enterprises in Canada. ACI operates a national network and two state-of-the-art data center facilities. The company offers a full suite of connectivity services, including colocation, hosted VoIP and managed network service. For more information on ACI, please visit www.connections.ca/.


© Business Wire 2018
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Financials (USD)
Sales 2020 1 683 M - -
Net income 2020 -160 M - -
Net Debt 2020 3 100 M - -
P/E ratio 2020 -2,18x
Yield 2020 -
Capitalization 349 M 349 M -
EV / Sales 2020 2,05x
EV / Sales 2021 1,99x
Nbr of Employees 3 100
Free-Float 72,4%
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Mean consensus HOLD
Number of Analysts 8
Average target price 8,33 $
Last Close Price 5,94 $
Spread / Highest target 85,2%
Spread / Average Target 40,3%
Spread / Lowest Target 17,8%
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Managers
NameTitle
Ernest Ortega Chief Executive & Revenue Officer
H. Brian Thompson Executive Chairman
Donald MacNeil Chief Operating Officer
Steven David Berns Chief Financial Officer & Executive Vice President
Robert Burris Senior VP-Global Engineering & Operations
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