GTT acquires Transbeam
Merger expands GTT’s scale and deepens its network footprint in the market
GTT Communications Incorporated, a global cloud networking provider to multinational clients, has acquired Transbeam, a provider of managed data and voice services, for $28m in cash.
This strategic combination adds marquee global clients in the hospitality, entertainment and retail segments and expands GTT's scale and deepens its network footprint in the market
According to GTT, the acquisition augments its managed SD-WAN service with broadband, wireless and Ethernet over copper capabilities, complementing the assets gained through its recent acquisition of Global Capacity.
"The acquisition of Transbeam contributes highly complementary and cost-effective access services that enhance GTT's leadership in managed hybrid networking," said Rick Calder, GTT president and CEO. "Transbeam's clients will have access to a comprehensive suite of cloud networking services, expansive reach to any location in the world and any application in the cloud, and our commitment to delivering an outstanding client experience by living our core values of simplicity, speed and agility."
Marc Sellouk, founder and CEO of Transbeam, said that: "This transaction delivers substantial benefits to our combined companies. GTT gains diverse network capabilities in the market and a set of marquee clients. We thank our employees for their outstanding service and our clients for their ongoing loyalty. We look forward to a seamless integration with GTT over the coming months."
The acquisition is expected to generate a post-synergy adjusted EBITDA of 5.0x or lower, with integration and cost synergies to be achieved within two quarters after closing the deal.