GTT Communications, a cloud networking provider, announced the acquisition of KPN International, a division of Netherlands-based KPN, for approximately €50 million in cash, on a cash and debt-free basis.
KPN International operates a global IP network serving enterprise and carrier clients.
The acquisition enhances scale and network reach, adding depth to GTT’s Tier 1 global IP network in Europe across 21 countries, including long-haul fiber routes and metro rings in Frankfurt, London, Amsterdam and Paris.
GTT Communications will gain from more than 400 enterprise and carrier clients. GTT will be the preferred international network supplier for an additional 400 clients retained by KPN.
“The acquisition of KPN International deepens our market presence in the European region,” said Rick Calder, GTT president and CEO.
GTT Communications said the acquisition is expected to close in the third quarter 2019.