GTT Buys Global Connectivity Company
GTT is continuing its acquiring ways, adding privately held Custom Connect to its stable. The financial terms of the deal weren't released but it adds about 150 multinational customers, many based in Europe, to GTT's roster. (See GTT Acquires Custom Connect.)
According to the Custom Connect website, the company is a carrier-neutral operation, using points of presence and offices in Amsterdam, London, New York and Dubai to provide seamless coverage for multi-national clients who don't want to deal with individual carriers themselves. Custom Connect designs the network solution, contracts with carriers at favorable volume-pricing rates and offers 24/7 support as the one-throat-to-choke for global clients.
Custom Connect has about 50 employees in its four offices and its operations will be "swiftly integrated onto GTT Communications Inc. 's operating platform in a seamless manner to clients," according to an email from GTT, in response to Light Reading questions. GTT had indicated a need to hire new experienced sales staff in its second quarter earnings call, and this acquisition may help with that process, intended to drive more organic growth.
In the same email, GTT positioned Custom Connect as expanding its ability to off cloud connectivity to enterprise clients anywhere in the world. "Custom Connect’s capabilities only serve to strengthen this market positioning and service offering," the email stated.
GTT was on an acquisitions tear through mid-2017, acquiring three companies last year to go with the eight it acquired in the three previous years. CEO Rick Calder has repeatedly said he isn't looking to grow by acquisition but will examine each potential deal for what it can add. The company is expanding its services portfolio, focusing heavily on software-defined wide-area networking (SD-WANs).
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— Carol Wilson, Editor-at-Large, Light Reading