Financial institutions and trading firms continue to demand ultra-low latency connectivity to ensure their ability to flawlessly meet their customers’ expectations. Global enterprises are also seeking high-speed network connectivity, and it’s not just companies doing business in the major banking and commercial hubs, but in emerging regions such as the Middle East, and in growth markets including Belgium, the Netherlands and Luxembourg.
Just recently, GTT Communications, Inc. (NYSE: GTT) acquired Custom Connect, an Amsterdam-headquartered provider of high-speed network connectivity serving the world’s leading multinational enterprises and financial trading firms. The strategic combination is significant in that it will extend the reach of GTT’s global Tier 1 IP backbone with additional points of presence in Europe and the Middle East. Additionally, acquiring Custom Connect will expand GTT’s base of multinational clients with highly strategic accounts as well as it sales presence in the Benelux region.
“Custom Connect and GTT are highly complementary businesses and the combination provides strategic advantages to our clients as well as our organizations,” remarked Olav van Doorn, Custom Connect CEO, following the announcement. “GTT gains strategic network assets and marquis clients. We look forward to a seamless integration in the upcoming months.”
Acquiring Custom Connect aligns with GTT’s portfolio of cloud networking services, including Ethernet, IP and SD-WAN, and provides it with the industry’s lowest latency service from Frankfurt to London, New York and Chicago.
Mamadoo Ventures participated in the transaction as principal outside investor in Custom Connect, while Oppenheimer served as its exclusive financial advisor.
“The acquisition of Custom Connect extends GTT’s network and strengthens our service offerings in high growth financial markets,” commented Rick Calder, GTT president and CEO. “These enhanced capabilities reinforce GTT’s market leadership in cloud networking and our commitment to connecting people – across organizations and around the world.”
To learn more about GTT, please visit www.gtt.net.