GTT Communications (NYSE: GTT), a global cloud networking provider to multinational clients, has announced the acquisition of Custom Connect – an Amsterdam, the Netherlands-headquartered provider of high-speed network connectivity serving multinational enterprises and financial trading firms worldwide.
“The acquisition of Custom Connect extends GTT’s network and strengthens our service offerings in high growth financial markets,” said Rick Calder, President and CEO of GTT. “These enhanced capabilities reinforce GTT’s market leadership in cloud networking and our commitment to connecting people – across organizations and around the world.”
Financial terms of the acquisition were not disclosed. The strategic combination of GTT and Custom Connect would:
- Extend the reach of GTT’s global Tier 1 IP backbone with additional points of presence (PoPs) in Europe and the Middle East
- Augment GTT’s portfolio of “ultra-low” latency services with the industry’s lowest latency service from Frankfurt to London, New York and Chicago
- Align with GTT’s portfolio of cloud networking services – including Ethernet, IP and SD-WAN
- Deepen GTT’s base of multinational clients with highly strategic accounts
- Expand GTT’s sales presence in the Benelux region
“Custom Connect and GTT are highly complementary businesses and the combination provides strategic advantages to our clients as well as our organizations,” said Olav van Doorn, CEO of Custom Connect. “GTT gains strategic network assets and marquis clients. We look forward to a seamless integration in the upcoming months.”
Oppenheimer served as the exclusive financial advisor to Custom Connect while Mamadoo Ventures participated in the transaction as principal outside investor in Custom Connect.