GTT Acquires PacketExchange For $20 Million In Cash, Debt

Global Telecom & Technology (GTT), a global carrier and network integrator, has acquired privately-held UK company PacketExchange in an effort to scale its business internationally. GTT will pay up to $20 million in cash and assumed debt to buy PacketExchange, which serves approximately 500 customers (carriers, ISPs, etc.).

PacketExchange is said to generate over $20 million in annualized revenue post-acquisition.

Founded in 2001 as a wide-area Internet Exchange fabric and application delivery service provider, PacketExchange today is a global network services provider connecting more than 65 points of presence in Europe, Asia and North America.

The core of its network is a private backbone consisting primarily of multiple 10 Gigabit Ethernet links over dedicated wavelengths on a fibre-optic mesh.

With the completion of this acquisition, GTT will broaden its global customer base of over 1,200 worldwide clients and expand its portfolio of data services, including ethernet, peering, cloud networking and other solutions.

GTT says it expects to integrate PacketExchange’s network assets, services and clients into its proprietary Client Management Database (CMD) rather quickly.

The company says it expects the transaction to close by the end of Q2 2011.