GTT makes fourth acquisition of the year with $28m Transbeam deal
GTT Communications has struck a $28 million deal to buy managed data and voice service provider Transbeam.
The deal will see acquisitive GTT enhance its customer base across key markets, including segments such as the hospitality, entertainment and retail industries, whilst also strengthening the firm’s network footprint in the Northeast Corridor.
Transbeam is a managed service provider of MPLS networks, metro Ethernet services, Ethernet over Fibre, business VoIP services, point-to-point wireless, cloud services and professional IT services. Its network includes points of presence in Boston, New York, New Jersey, Los Angeles, Dallas, Atlanta, and Miami.
“This transaction delivers substantial benefits to our combined companies,” said Marc Sellouk, founder and CEO of Transbeam.
“GTT gains diverse network capabilities in the Northeast 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.”
GTT said the deal will also augment its managed SD-WAN service with additional broadband, wireless and Ethernet over copper capabilities.
It is the latest in a long line of purchases for GTT, which recently closed the acquisition of Global Capacity for $161 million. It also snapped up Perseus for $39.5 million, while closing a mega deal for Hibernia Networks in January.
“This transaction accelerates GTT’s growth strategy and advances our commitment to connecting people across organizations and around the world,” said Rick Calder, GTT president and CEO.
“Our combined client base will benefit from an expanded and talented team that is focused on delivering superior client service by living GTT’s core values of simplicity, speed and agility.”