GTT GTT 2,48 -0,11 -4,25% have completed their acquisition of Hibernia Networks. This deal was announced last year, for $590mn.
The acquisition delivers the following assets:
- Five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing stations
- New global points of presence, expanding GTT’s Tier 1 IP network to over 300 in total
- Optical and low latency transport, video and CDN services
- Key relationships with marquee clients, specifically within the financial services, media and entertainment, web-centric and service provider segments
“The addition of Hibernia Networks advances GTT’s growth strategy. The transaction expands GTT’s top five global IP network, adds products to our cloud networking portfolio and provides a strong recurring revenue base via established relationships with multinational clients. Our clients will also benefit from a team with deep technical expertise and a proven track record of delivering exceptional client service.” – Rick Calder, President and CEO, GTT