GTT acquires Interoute, the largest fiber optic network operator in Europe, for US$2.3 billion
February 27 news, according to media reports, the US telecommunications company and Internet provider GTT Communications will purchase the European fiber network operator Interoute for US$2.3 billion.
According to Bloomberg's report last year, London-based Interoute operates one of the largest fiber optic networks and associated cloud services in Europe, covering more than 70,000 kilometers and 29 countries.
Rick Calder, President and CEO of GTT, stated: "The acquisition of Interoute is an important milestone in achieving our goal of connecting people, organizations, and people worldwide. This combination has created a subversive market leader with huge scale, unique network assets and award-winning product features, to meet our customers' growing demand for Europe, the United States and globally distributed cloud networks."
The GTT added that it is expected that the transaction will be completed within six months and that it will take up to one year to integrate the company's respective services.
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