McLean, VA and Amsterdam -- GTT Communications, Inc., a global cloud networking provider to multinational clients, announced today the acquisition of Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving the world’s leading multinational enterprises and financial trading firms.
The strategic combination extends the reach of GTT’s global Tier 1 IP backbone with additional points of presence in Europe and the Middle East and augments GTT’s portfolio of ultra-low latency services with the industry’s lowest latency service from Frankfurt to London, New York and Chicago. It also aligns with GTT’s portfolio of cloud networking services, including Ethernet, IP and SD-WAN, and deepens GTT’s base of multinational clients with highly strategic accounts. Adding Custom Connect expands GTT’s sales presence in the Benelux region, and expands and enhances Custom Connect's services portfolio and global offerings.
"The acquisition of Custom Connect extends GTT’s network and strengthens our service offerings in high growth financial markets," said Rick Calder, GTT president and CEO. "These enhanced capabilities reinforce GTT’s market leadership in cloud networking and our commitment to connecting people – across organizations and around the world."
“Custom Connect and GTT are highly complementary businesses and the combination provides strategic advantages to our clients as well as our organizations,” said Olav van Doorn, Custom Connect CEO. “GTT gains strategic network assets and marquis clients. Custom Connect’s business expands its reach significantly. We look forward to a seamless integration in the upcoming months.”
Oppenheimer served as the exclusive financial advisor to Custom Connect. Mamadoo Ventures participated in the transaction as principal outside investor in Custom Connect.