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Company type | Private |
---|---|
Industry | Telecommunications |
Founded | 1998 |
Headquarters | Arlington, Virginia, United States |
Area served | Worldwide |
Key people | Edward Morche (CEO and board director), Fletcher Keister (CPTO), Lisa Cool (CMO & Chief of Staff for the Executive Office), |
Products | Internet, Voice over Internet Protocol (VoIP), Wide Area Networking, SD-WAN, Secure Access Service Edge (SASE), Network Security, Cloud Security, Multi-Protocol Label Switching (MPLS), Managed and Professional Services |
Number of employees | 2,200 (January 2023) |
ASN | |
Peering policy | Restrictive |
Traffic Levels | 10 Tbit/s+ |
GTT Communications, Inc. (GTT), formerly Global Telecom and Technology, is a multinational telecommunications company and managed network and security service provider headquartered in Arlington, Virginia. GTT operates a Tier 1 IP network and provides Internet; wide area networking, SD-WAN; network security, managed services; and voice and video transport services.
In 1998, telecom services integrator Global Internetworking Inc. was founded in McLean, Virginia. [1] That same year, European Telecom and Technology was founded in London. [1]
In April 2005, Mercator Partners, a special purpose acquisition company bought both Global Internetworking Inc. and European Telecommunications & Technology in 2006, merging the two companies' operations and renaming it Global Telecom & Technology, Inc. (GTT). [2] [3]
In December 2009, GTT acquired Denver-based WBS Connect in a stock and cash transaction, shifting its business model to a network operator providing IP transit and Ethernet services. [4]
In June 2011, GTT acquired PacketExchange, a privately held UK company and operator of a global IP backbone, for $20 million in cash. [5]
In May 2012, GTT acquired nLayer Communications, a privately held global IP backbone, for $18 million. [6]
In April 2013, GTT acquired the Tier 1 IP network, Tinet (formerly Tiscali International Network), from Inteliquent for $54.5 million in cash and services, resulting in Tier 1 status for GTT's global IP network. [7] In June 2013 GTT was listed on the New York Stock Exchange, under the symbol GTT. [8]
On January 14, 2014, GTT officially changed its name to GTT Communications, Inc. [9] In February 2014, GTT announced opening a new office in Hong Kong's Central District, bringing its total to 9 offices in 6 countries. [10] In October 2014, GTT announced it had closed the acquisition of UNSi, a communications company providing data services to large enterprise and carrier clients. [11]
On February 19, 2015, GTT entered into a definitive agreement to acquire MegaPath’s managed services business, which provides private wide-area-networking, Internet access services, managed services and managed security to multinational clients. [12] On October 22, 2015, GTT acquired One Source Networks (OSN), a provider of data, Internet, Session Initiation Protocol (SIP) trunking and managed services. [13]
On February 9, 2016, GTT acquired Telnes Broadband for $18 million. [14] On October 7, 2016, GTT announced the award of Government Services Administrations (GSA) IT Schedule 70 Contract. The IT Schedule 70 is the largest acquisition vehicle in the United States federal government. [15]
On January 9, 2017, GTT completed the acquisition of Hibernia Networks for $590 million. [16] The company acquired five subsea cables, including Hibernia Express (now GTT Express), a low latency transatlantic cable system. [17] In May, GTT purchased IP broker and aggregator Giglinx, for $21 million. [18] On June 19, GTT announced it was acquiring Perseus Telecom, a provider of low latency services for the financial market industry, for $37.5 million. [19] On June 26, GTT announced it was acquiring Massachusetts-based telecommunications provider Global Capacity, for $100 million and 1.85 million shares of GTT common stock. [20] The deal closed on September 18. [21] [22]
In January 2018, GTT announced the acquisition of Custom Connect, an Amsterdam-headquartered provider of high speed network connectivity for multinational enterprises and financial services firms. [23] On February 26, GTT announced the acquisition of Interoute, operator of one of Europe's largest independent fiber networks and cloud networking platforms, for approximately €1.9 billion ($2.3 billion) in cash. The deal subsequently closed on May 31. [24] On March 12, GTT expanded its Canadian footprint by acquiring Toronto-based telecommunications company Accelerated Connections. [25] On October 1, GTT acquired Cary, NC-based Access Point, a provider of communications services in the US market. [26]
On December 2, 2019, GTT completed its acquisition of KPN International, a division of Netherlands-based telecommunications company KPN N.V., operating a global IP network serving enterprise and carrier clients. [27]
On October 16, 2020, GTT announced an agreement with I Squared Capital to sell the infrastructure division of GTT. The division consists of a pan-European, North American, and subsea fiber network and data center assets and associated infrastructure services provided to customers which were acquired by GTT through the Hibernia, Interoute and KPN International acquisitions. [28]
On August 2, 2021, The New York Stock Exchange delisted GTT Communications' shares after it failed to file its quarterly and annual results. [29]
On September 2, 2021, GTT announced that the company and certain U.S.-based subsidiaries planned to file for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York as part of a Pre-packaged insolvency agreement, following the completion of the sale of its infrastructure division. The company said it expected to continue operating without interruption, with the support of its lenders. [30]
On September 17, 2021, GTT completed the long-anticipated sale of its infrastructure division to Miami-based I Squared Capital for total cash considerations of approximately $1.74 billion, with other cash amounts anticipated to be paid to GTT in the future, contingent on certain milestones. [31]
On December 16, 2021, the United States Bankruptcy Court for the Southern District of New York approved GTT’s Prepackaged Chapter 11 bankruptcy plan. The Prepackaged Plan enables GTT to improve its capital structure and execute its long-term business strategy. [32]
The company operated[ when? ] a network of over 600 points of presence (PoPs).[ citation needed ] The network spans six continents, and provides services to clients in more than 140 countries. [33]
As of 2019, [update] GTT was one of the five largest Internet backbones in terms of traffic. [34] The company's high speed Internet services include IP transit, dedicated internet access and broadband internet services. GTT also operates a 100% native dual stack (IPv4 and IPv6) carrier class network built on optical infrastructure. [35]
GTT provides WAN services, including SD-WAN, VPLS, MPLS, and Ethernet point-to-point services, which are transported across the company's Tier 1 global IP network. [16] [36]
KPN is a Dutch telecommunications company. KPN originated from a government-run postal, telegraph and telephone service and is based in Rotterdam, Netherlands.
Level 3 Communications was an American multinational telecommunications and Internet service provider company headquartered in Broomfield, Colorado. It ultimately became a part of CenturyLink, where Level 3 President and CEO Jeff Storey was installed as Chief Operating Officer, becoming CEO of CenturyLink one year later in a prearranged succession plan.
PSINet was an American internet service provider based in Northern Virginia. As one of the first commercial Internet service providers (ISPs), it was involved in the commercialization of the Internet until the company's bankruptcy in 2001 during the dot-com bubble and acquisition by Cogent Communications in 2002.
Innovate Corp. is an American public financial services company founded in 1994.
Hibernia Networks, alternately known as Hibernia Atlantic, was a privately held, US-owned provider of telecommunication services. It operated global network routes on self-healing rings in North America, Europe and Asia including submarine communications cable systems in the North Atlantic Ocean which connected Canada, the United States, the Republic of Ireland, the United Kingdom and mainland Europe. Hibernia managed cable landing stations in Dublin, Republic of Ireland; Coleraine, Northern Ireland; Southport, England; Halifax, Canada; Lynn, Massachusetts, United States.
Windstream Holdings, Inc., also doing business as Windstream Communications or Windstream, is a provider of voice and data network communications, and managed services, to businesses in the United States. The company also offers residential broadband, phone and digital streaming TV services to consumers within its coverage area. It is the ninth largest residential telephone provider in the country with service covering more than 8.1 million people in 21 states.
Interoute Communications Ltd was a privately held telecommunications company that operated large cloud service platforms in Europe. On 23 February 2018, Interoute was acquired by GTT Communications for $2.3bn (€1.9bn); and the acquisition closed on 31 May 2018.
RCN Corporation, originally Residential Communications Network, founded in 1993 and based in Princeton, New Jersey, was the first American facilities-based ("overbuild") provider of bundled telephone, cable television, and internet service delivered over its own fiber-optic local network as well as dialup and DSL Internet service to consumers in the Boston, Chicago, Los Angeles, New York City, the Lehigh Valley in eastern Pennsylvania, and Washington, D.C. areas.
Vocus Group Limited, formerly known as Vocus Communications, is an international telecommunications company headquartered in North Sydney, Australia. Founded by James Spenceley as a wholesale, business, government and consumer telecommunications provider, Vocus owns and manages Australia's second largest intercapital fibre network. Vocus provides retail, wholesale and corporate telecommunications services across Australia and New Zealand. Vocus offers data network services such as Internet, dark fibre, IP WAN, unified communications and telephony and cloud services to mid, large and corporate businesses direct and also acts as a wholesaler. The company owns and operates 18 data centres across Australia and New Zealand and has an onshore network operations centre run by the engineers who built the network.
Primus Telecommunications Pty Ltd. is an Australian telecommunications company and wholly owned subsidiary of Vocus Communications that primarily focuses on fixed, mobile, and broadband services.
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Lumen Technologies, Inc. is an American telecommunications company headquartered in Monroe, Louisiana, that offers communications, network services, security, cloud solutions, voice, and managed services. The company was a member of the Fortune 500 and the S&P 500 index from 1999 until 2023. Its communications services include local and long-distance voice, broadband, Multi-Protocol Label Switching (MPLS), private line, Ethernet, hosting, data integration, video, network, public access, Voice over Internet Protocol (VoIP), information technology, and other ancillary services. Lumen also serves global enterprise customers across North America, Latin America, EMEA, and Asia Pacific.
MDNX was a private telecommunications company located in Bracknell and London. In December 2013 MDNX acquired the entire issued share capital of Easynet, a global provider of managed networking, hosting and cloud integration services, from LDC. The combined business went by the name of Easynet. Its CEO was Mark Thompson. The company was acquired by Interoute in September 2015.
MegaPath was a business telecommunications company. In 2018, MegaPath was acquired by cloud service provider Fusion Connect for $71.5 million. Founded in 1996, it provides a voice, unified communications, internet access, Managed Security Services, and cloud computing services to carrier and service-provider businesses in the United States. The company was headquartered in Pleasanton, California.
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Hibernia Express is a submarine communications cable system which was privately owned by Hibernia Networks linking Canada, Ireland, and the UK. Hibernia Express is now owned by telecommunications provider GTT Communications, Inc. after their acquisition of Hibernia Networks. At 58.95ms of latency, the cable is currently the lowest latency fiber optic route between the NY4 data center in Secaucus, New Jersey and London.
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(help)The company is no longer suitable for listing because the company is delayed in filing with the Securities and Exchange Commission its quarterly reports on Form 10-Q for the quarters ended June 30, 2020, September 30, 2020 and March 31, 2021 and annual report on Form 10-K for the fiscal year ended December 31, 2020
McLean-based telecommunications company GTT Communications Inc. is planning to file a prepackaged chapter 11 case after it closes the previously announced sale of its infrastructure division to Miami-based I Squared Capital, it announced Thursday. After the completion of the $2.15 billion sale, GTT and some subsidiaries will file their cases in the U.S. Bankruptcy Court for the Southern District of New York.
According to the Securities and Exchange Commission filing, the total cash consideration paid to GTT is approximately $1.74 billion and other cash amounts are anticipated to be paid to GTT in the future, contingent on certain milestones.