Acquisition of Hibernia network by GTT generates a prevailing global network
service provider which wholly focuses on giving out its clients with market
foremost low latency connectivity, video transport, and cloud networking
solutions. Hibernia network and GTT contribute to parallel values by generating
chief emphasis on speed and suppleness and serving with new inventive and
differentiated solutions. This acquisition will accelerate GTTs growth by expanding
the portfolio of cloud networking services and significantly increasing the scope
and power of the global network.
Funding of GTT
According to the agreement terms and conditions, GTT will pay 175 million dollars
for the acquisition. GTT has been engaged with Key Bank national association and
sun trust Robinson Humphrey to provide funds for the transaction. Financing is
expected to consist of new 400 million dollar term loan and 50 million dollars
revolving credit facility which will totally replace GTTs current credit facilities and
fund the acquisition.
Future plans of GTT
GTT a fast growing telecom company planned to buy Hibernia network and also
aims to sell more services through the channel. GTT has a very straightforward
approach to services it sells. It does not provide cloud services but cloud
networking to all by selling dedicated internet access voice services, wide area
networking connections and SIP trunking to large enterprises, government and
other service providers.
GTT offer the better way to reach the cloud through its suite of networking
services which include wide area network. It offers an outstanding client
experience by living its core values of speed and agility. The decision of GTT to
acquire Hibernia network adds breadth and depth and expands GTT’s cloud
networking portfolio which includes wide area network, voice services, and CDN
services. It also enhances GTTs financial profile.