Deal Snapshot
GTT COMMUNICATIONS TO ACQUIRE MANAGED SERVICES UNIT FROM MEGAPATH
Friday 20 February 2015

US-based cloud networking provider GTT Communications, Inc. (NYSE: GTT) has signed a definitive agreement to acquire MegaPath's managed services business in a cash and stock deal, the company said. MegaPath's managed services unit provides private wide-area-networking, Internet access services, managed services and managed security to over 500 large multinational clients. Under the terms of the agreement, GTT will pay USD 144.8m in cash and USD 7.5m in GTT common stock for the acquisition.


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Details
Date Published: 20/02/2015
Target: MegaPath/Managed Services Unit
Country: USA
Deal Size: 152.3m (USD)
Sector: IT/Online Services
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor: MegaPath
Buyer: GTT Communications, Inc
Buyer Advisor: KeyBanc Capital Markets Inc , Webster Bank, N.A
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