Wikipedia

GTT Communications

(Redirected from Tiscali International Network)

GTT Communications, Inc. (GTT), formerly Global Telecom and Technology, is a Network as a Service (NaaS) and Security as a Service (SECaaS) provider headquartered in Arlington, Virginia. GTT operates a Tier 1 IP network and provides Internet; wide area networking, SD-WAN; network security, voice and video transport services.

GTT Communications, Inc.
Company typePrivate
IndustryTelecommunications
Founded1998
HeadquartersArlington, 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 policyRestrictive
Traffic Levels10 Tbit/s+
Websitegtt.net

History

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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] Mercator Partners, a special purpose acquisition company bought Global Internetworking Inc. in April 2005 and European Telecommunications & Technology in 2006. The operations of the companies were merged and renamed Global Telecom & Technology, Inc.[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] It then acquired PacketExchange, a privately held UK company and operator of a global IP backbone, in June 2011 for $20 million in cash.[5] This was followed in May 2012 by the acquisition of nLayer Communications, a privately held global IP backbone, for $18 million.[6] and in April 2013 the acquisition of Tier 1 IP network, Tinet (formerly Tiscali International Network), from Inteliquent for $54.5 million 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]

Operations

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The company operates a network of over 450 points of presence (PoPs).[citation needed] The network spans six continents, and provides services to clients in more than 170 countries.[33]

Internet

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As of 2019, 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]

Wide area networking

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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]

References

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  1. ^ a b "SECURITIES AND EXCHANGE COMMISSION FORM PREM14A" (PDF). secdatabase.com. 2006-08-23. Retrieved 2018-08-07.
  2. ^ O'Hara, Terence (16 April 2005). "Mercator Partners IPO Raises $59.5 Million". The Washington Post. Retrieved 5 September 2015.
  3. ^ "Investor Overview". Sec.gov. Retrieved 2013-11-05.
  4. ^ Hamilton, David (17 December 2009). "Global Telecom & Technology Completes Acquisition of WBS Connect". Web Host Industry Review. Retrieved 5 September 2015.
  5. ^ Enterprise (2011-05-23). "GTT Acquires PacketExchange For $20 Million In Cash, Debt". TechCrunch. Retrieved 2013-11-05.
  6. ^ "Network M&A: GTT Acquires nLayer". Telecom Ramblings. May 2012. Retrieved 2013-11-05.
  7. ^ "Network M&A: GTT Buys Inteliquent's Data Network". Telecom Ramblings. 2013-04-30. Retrieved 2013-11-05.
  8. ^ MarketScreener. "GTT - Global Telecom & Technology Inc. : GTT to List on the NYSE MKT". www.marketscreener.com. Retrieved 2020-08-24.
  9. ^ "GTT Communications, Inc. Announces Name Change". Reuters. 2014-01-22. Archived from the original on 2015-12-22. Retrieved 2015-12-15.
  10. ^ "GTT Expands Global Presence with New Office in Hong Kong". The World News Network. 2014-02-26. Retrieved 2015-07-10.
  11. ^ "GTT Acquires UNSi". Fierce Telecom. 2014-10-01. Retrieved 2015-07-10.
  12. ^ "GTT Acquires MegaPath's Managed Services Business". Fierce Telecom. 2015-02-20. Retrieved 2015-02-19.
  13. ^ "GTT Buys One Source Networks, Achieves a Few Goals". Telecom Ramblings. 2015-09-15. Retrieved 2015-09-15.
  14. ^ "GTT acquires Telnes Broadband for $18M, accelerates channel sales reach | FierceTelecom". www.fiercetelecom.com. 9 February 2016. Retrieved 2016-11-28.
  15. ^ "United States : GTT Announces Award of Government Services Administrations IT Schedule 70 Contract". 2016-10-07. Archived from the original on 2018-02-27. Retrieved 2016-11-28. {{cite journal}}: Cite journal requires |journal= (help)
  16. ^ a b "GTT completes $590m Hibernia Networks acquisition". www.capacitymedia.com. 10 January 2017. Retrieved 2017-01-18.
  17. ^ "GTT launches optical transport services, leverages Hibernia assets". fiercetelecom.com. 2017-03-17. Retrieved 2018-08-07.
  18. ^ "GTT's Other Spring Acquisition: Giglinx". fiercetelecom.com. 2017-06-21. Retrieved 2017-06-27.
  19. ^ "GTT acquires Perseus for $37.5M, ups financial market presence". fiercetelecom.com. 2017-06-19. Retrieved 2017-06-27.
  20. ^ "GTT Buying Global Capacity for $100 Million, Stock". channelpartnersonline.com. 2017-06-26. Retrieved 2017-08-07.
  21. ^ "GTT completes acquisition of Global Capacity". seekingalpha.com. 2017-09-18. Retrieved 2017-09-18.
  22. ^ "GTT acquires Global Capacity, scales network reach to 9.6M locations". fiercetelecom.com. 2017-06-26. Retrieved 2017-06-23.
  23. ^ "GTT acquires Custom Connect to extend European, Middle East IP backbone". fiercetelecom.com. 2018-01-08. Retrieved 2018-08-07.
  24. ^ "Q&A: GTT CMO Nomellini discusses Interoute deal, SD-WAN and automation". fiercetelecom.com. 2018-06-04. Retrieved 2018-08-07.
  25. ^ "GTT acquires Accelerated Connections, enhances Canadian network, market foothold". fiercetelecom.com. 2018-03-12. Retrieved 2018-03-14.
  26. ^ "GTT Communications Expands With $40M Access Point Acquisition". crn.com. 2018-10-01. Retrieved 2019-04-23.
  27. ^ "GTT completes €50m KPN International acquisition". capacitymedia.com. 2019-12-02. Retrieved 2020-06-01.
  28. ^ "GTT Reaches $2.15 Billion Definitive Agreement to Sell Infrastructure Division to I Squared Capital". www.gtt.net. Retrieved 2021-06-17.
  29. ^ Alan Burkitt-Gray (July 23, 2021). "GTT in crisis as NYSE delists shares for failing to report results". www.capacitymedia.com. Retrieved August 23, 2021. 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
  30. ^ Katherine Schulte (September 2, 2021). "GTT Communications to file for Chapter 11 bankruptcy". www.virginiabusiness.com. Retrieved September 22, 2021. 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.
  31. ^ Robyn Sidersky (September 17, 2021). "GTT completes $2B infrastructure sale". www.virginiabusiness.com. Retrieved September 22, 2021. 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.
  32. ^ "GTT Granted Court Approval of Prepackaged Plan". finance.yahoo.com. Retrieved 2022-01-17.
  33. ^ "March 2019 10-K filing". marketwatch.com. 2019-03-01. Retrieved 2019-05-10.
  34. ^ "AS Rank - IPV4". as-rank.caida.org. Retrieved 2019-04-23.
  35. ^ "Profile; GTT Communications Inc (GTT)". Reuters. Retrieved 2016-03-11.
  36. ^ "GTT increases Asia-Pacific play by establishing network presence in Tokyo". fiercetelecom.com. 2013-09-25. Retrieved 2017-07-10.
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