GTT Communications to enhance presence with Access Point acquisition
GTT Communications has acquired Access Point, a North Carolina-based service provider, in order to enhance the global cloud networking provider’s presence in markets including retail, manufacturing and energy, whilst providing upsell opportunities.
The aim is that Access Point’s complementary managed broadband, internet and voice capabilities will reinforce GTT’s market leadership in cloud networking, whilst new partner relationships in the indirect channel, will complement GTT’s expanding presence in the channel marketplace.
Commenting on the acquisition, Rick Calder, GTT president and CEO said: ‘We expect a rapid integration as we work with our new clients to deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.’
Added Richard Brown, Access Point CEO: ‘With GTT, Access Point customers now have access to one of the industry’s largest Tier 1 global IP networks and a broad portfolio of cloud networking services backed by a commitment to providing outstanding service that mirrors our own.’
GTT paid $40 million for the acquisition. This is composed of $35 million in cash and 115,194 shares valued at $5 million.
This is the most recent step along the acquisition trail for the company, which purchased Canada-based Accelerated Connections (ACI) earlier this year (see GTT gains 72,000km European fibre network in €1.9 billion Interoute acquisition). It also made gains in Europe with its acquisition of Interoute (see GTT gains 72,000km European fibre network in €1.9 billion Interoute acquisition).