The deal will see GTT Communications take possession of KPN International’s operations in 21 countries across the world
Cloud network provider GTT Communications has announced that it will acquire KPN International, for a fixed fee of €50 million.
KPN International operates a global IP network and is owned by Dutch telco KPN.
“The acquisition of KPN International deepens our market presence in the European region,” said Rick Calder, GTT president and CEO.
“The world-class resources contributed from this acquisition, including a highly experienced team, international network assets and a deep roster of multinational clients, will help us deliver on our purpose of connecting people across organizations around the world and to every application in the cloud.”
KPN serves both Dutch and international customers in the retail and enterprise sectors. The acquisition will allow GTT Communications to scale up its operations across mainland Europe. KPN has previously stated its desire to offload some of its noncore assets, as it attempts to refocus its business proposition.
The deal will proceed on a cash free, debt free basis, and is expected to complete in the third quarter of 2019. The deal is subject to standard regulatory approvals.
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