GTT Acquires Accelerated Connections
MCLEAN, Va. -- 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.