GTT, an owner/operator of a global Tier 1 Internet network and provider of a comprehensive suite of cloud networking services to any location in the world, has acquired Access Point – a provider of communication services headquartered in Cary, North Carolina. GTT paid $40 million to acquire Access Point, composed of $35 million in cash and 115,194 shares valued at $5 million.
Access Point would add a growing roster of strategic U.S. enterprise clients to GTT’s customer base, deepening the company’s presence in key verticals such as retail, manufacturing and energy, with significant upsell opportunities. The acquisition would also add new partner relationships in the indirect channel, complementing GTT’s expanding presence in the channel marketplace.
“With GTT, Access Point customers now have access to one of the industry’s largest Tier 1 global IP networks and a broad portfolio of cloud networking services backed by a commitment to providing outstanding service that mirrors our own,” said Richard Brown, CEO of Access Point. “We value the loyalty of our customers, and we look forward to providing them an even more robust set of communication services as we integrate swiftly with GTT.”
In terms of its network product portfolio, GTT will be able to incorporate complementary managed broadband solutions while also adding Internet and voice capabilities, to further enhance its global position in the cloud networking space.
“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” said Rick Calder, President and CEO of GTT. “We expect a rapid integration as we work with our new clients to deliver on our purpose of connecting people across organizations, around the world and to every application in the cloud.”