Global Telecom & Technology, Inc Acquires PacketExchange According to BAC Report01 Sep 2011 • by Natalie Aster
LONDON - Global Telecom & Technology recently announced that it has acquired PacketExchange, a UK-based a global network services provider founded in 2002. The acquisition allowed GTT to enlarge business scale and unite customers base of 1200 clients around the world.
GTT therefore added substantial network assets in Europe, North America and Asia. It has also expanded its data services portfolio, namely: Global Peering, Global Ethernet, Cloud Networking, Collaborative Networking, Dedicated Internet Access and Transit, Network Infrastructure-as-a-Service (which offers integral managed network solutions).
GTT took two loans to fund the acquisition. The first is to be paid to Silicon Valley Bank. The second was lent by BIA Digital Partners, a private investment company working with medium or large enterprises.
Company’s recent financial performance is not very strong. During the first half of FY2011 GTT was able to generate revenues of USD 41.6 M (a 2.5% rise), but net income amounted USD (0.2) M, which is an obvious letdown.
FY2010 financial results were not that bad, though. Revenues and net income reached USD 81 M and USD 1.37 M, an increase by 26% and 201.8% respectively comparing to FY2009.
Founded in 1998 and headquartered in McLean (VA, USA) Global Telecom & Technology engages in network integration and international telecommunication services. It operates in 3 segments: Wide Area Network Services, Dedicated Internet Access, Managed Network Services, and runs business in more than 80 countries.
More information on the company’s present activities, risk factors, business possibilities and experts’ forecasts can be found in the report “Global Telecom & Technology, Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Global Telecom & Technology, Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jun, 2011
An in-depth throughout overview of the overall US Communication Services Industry and the competitive market landscape can be found in the report “US Communication Services Industry Comparative Analysis and Companies Ranking”
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