GTT Communications buys N.C. communication services company
McLean-based GTT Communications Inc., a major cloud networking provider, has acquired Access Point, a North Carolina-based communication services company.
GTT paid $40 million in the Access Point acquisition. That amount includes $35 million in cash and 115,194 GTT shares valued at $5 million.
GTT said Access Point, which has its headquarters in Cary, N.C., brings a roster of strategic U.S. clients, improving GTT’s presence in a variety of industries, including retail, manufacturing and energy.
GTT also said Access Point’s broadband, internet and voice capabilities would enhance GTT’s market position in cloud networking.
In August, GTT reported second-quarter revenue of $326.8 million, up nearly 72 percent from the same period last year.