McLean, VA, October 1, 2014 - GTT Communications, Inc. (NYSE MKT: GTT), the leading global cloud networking provider to multinational enterprises, announced it has closed, effective today, the acquisition of UNSi, a communications company providing data services to large enterprise and carrier clients.
Currently operating at an approximate $55 million annualized revenue run rate, UNSi delivers high capacity Ethernet and MPLS wide-area-network solutions, Internet services and a broad range of managed services to more than 2,000 clients headquartered in the United States.
“The UNSi acquisition complements GTT’s strategy to extend ubiquitous network connectivity, to expand our portfolio of cloud networking solutions, and to deliver outstanding client experience. We are adding a great team of employees throughout sales, service delivery, network engineering, operations and back-office support to ensure we deliver for our growing client base with simplicity, speed and agility,” said Rick Calder, President and CEO of GTT. “This transaction is another step toward our next financial objective of $400 million in revenue and $100 million in adjusted EBITDA.”
“We are excited about the opportunity and potential of the combined company on behalf of UNSi clients, and we look forward to a smooth transition and integration,” said Francis D. John, President and CEO of UNSi.
GTT acquired UNSi for $40 million comprised of a combination of cash and stock. “We financed the acquisition with cash-on-hand and a $15 million delayed draw term loan under our existing credit agreement,” said Michael Bauer, Chief Financial Officer of GTT. “In August, we completed a debt financing strengthening our balance sheet and providing the company with the flexibility to pursue accretive acquisitions, such as UNSi, which accelerate our growth strategy.”
Q Advisors LLC, a Denver-based communications and technology focused investment banking firm, acted as the exclusive financial advisor to UNSi.
GTT operates a global Tier 1 IP network with the most interconnected Ethernet service platform around the world. We provide highly reliable, scalable and secure cloud networking services. Our clients trust us to deliver solutions with simplicity, speed, and agility that are unmatched by other network providers. For more information, visit www.gtt.net.