Global cloud networking provider GTT Communications is selling its infrastructure division to an independent global infrastructure investment firm, I squared Capital, for $2.15 billion. The division consists of GTT’s business and activities of providing Pan-European, North American, sub-sea, and trans-Atlantic fiber network and data center infrastructure services. The acquisition is expected to close in the first half of 2021.
Selected network and data center assets include:
- A 103,000 route kilometer fiber network with over 400 points of presence, spanning 31 metro areas and interconnecting 103 cities across Europe and North America.
- Three transatlantic subsea cables, including GTT Express, the lowest latency route between Europe and North America.
- Fourteen Tier 3 data centers and over 100 colocation facilities.
- Offering a full suite of telecom and data infrastructure solutions to marquee clients.
Ernie Ortega, GTT CRO and interim CEO, GTT Communications said,
“The divestment of the highly differentiated infrastructure division assets will ensure greater focus on network investment and development of high-speed infrastructure services under the more specialized ownership of this experienced investor. The deal enables GTT to reinforce its capex light business model as well as its cloud networking focus and will benefit both enterprise and infrastructure clients alike.”