GTT to Acquire Global Capacity in Cloud Networking Deal

GTT Communications agreed to acquire Global Capacity, GTT said in a Monday news release, for $100 million cash and 1.85 million shares of GTT common stock to be issued to the sellers at closing. Following GTT’s $37.6 million acquisition of Perseus (see 1706200080), the deal adds customers in the healthcare, application service provider, retail and carrier markets; enhances GTT’s managed SD-WAN service with Ethernet over copper infrastructure; and expands GTT’s network to 8.6 million U.S. commercial addresses, the buyer said. The companies expect to close by the end of Q3, including subject to regulatory approvals, GTT said.