Cloud networking company GTT Communications (Global Telecom and Technology) have acquired Dutch high-speed network providers Custom Connect to in a bid to fortify the weaker areas of its business. Through this acquisition, GTT aims to strengthen its presence in Europe, add MNC clients in the American and European market and solve latency issues for current clients by leveraging Custom’s network expertise.
GTT say that this strategic combination will further their market leadership. They also added that the tier-one IP addition to Europe and Middle-East, along with ultra-low latency services joining Frankfurt and London, as well as New York and Chicago will stand as a differentiator in the market. Elated by this acquisition, Rick Calder, President and CEO at GTT commented:
The acquisition of Custom Connect extends GTT’s network and strengthens our service offerings in high growth financial markets. These enhanced capabilities reinforce GTT’s market leadership in cloud networking and our commitment to connecting people – across organizations and around the world.
According to Custom Connect, the acquisition is much like a hand-in-glove situation where both parties have similar business goals and ambitions. They further added that the deal will empower its customers and clients with a strategic advantage. Explaining this in detail, Olav van Doorn, CEO at Custome Connect added:
GTT gains strategic network assets and marquis clients. We look forward to a seamless integration in the upcoming months.