McLean cloud network provider pays $55M for Dutch company
GTT Communications Inc. acquired telecommunications and IT provider KPN International
McLean-based cloud networking provider GTT Communications Inc. acquired Dutch telecommunications and IT provider KPN International for €50 million cash (or about $55.4 million), GTT announced Monday.
The acquisition will add more than 400 strategic enterprise and carrier clients and will make GTT the preferred international network supplier for several hundred of KPN’s clients. It will also expand GTT’s cloud networking services portfolio and add depth to its global Tier 1 IP network in Europe, according to GTT.
GTT owns and operates a global Tier 1 internet network and provides cloud networking services, while KPN International offers telecommunications and IT services to both Dutch and international customers. KPN International is part of Royal KPN, a telecommunications and IT provider and market leader in the Netherlands.
“The great client base contributed by this acquisition, combined with a talented group of employees, strengthens GTT’s presence in Europe,” GTT president and CEO Rick Calder said in a statement. “We are pleased to welcome this blue-chip roster of clients from KPN International who can now access GTT’s expansive global network and comprehensive service portfolio.”
GTT paid cash on a debt-free basis to complete the transaction.