GTT acquires data services business from Inteliquent
Inteliquent has sold its global data services business to network integrator GTT for $54.5 million.
The acquisition largely consists of assets Inteliquent received as part of its Tinet SpA takeover in 2010, and indicates the company’s intentions to refocus its operations on voice services.
Network integrator GTT will provide Inteliquent with $2 million’s worth of commercial services over a three-year period as a further part of the deal.
The transaction includes 120 PoPs in 24 countries and a unit which generated revenue of $69.5 million in 2012.
CEO of Inteliquent, Ed Evans, said: “This transaction also affords us with significant balance sheet flexibility to consider other value-enhancing alternatives for our shareholders.”
Cloud network provider GTT asdded that the takeover accelerates its move towards becoming a more asset-based network solution provider.