European data centre and fibre network bought for €1.9bn

March 05, 2018 // By Nick Flaherty
One of Europe’s largest independent fibre network and cloud infrastructure providers has been acquired by a US competitor for €1.9 billion ($2.3 billion) in cash.

Interoute operates 15 data centres, 17 virtual data centres and 51 colocation facilities as well as an extensive 72,000km fibre network. It has been bought by GTT Communications of Virginia, creating a leading global IP network with over 400 points of presence in 24 metro areas and interconnecting 126 cities across 29 countries.

The move also strengthens GTT’s position in software-defined wide area networking (SD-WAN). 

“The acquisition of Interoute represents a major milestone in delivering on our purpose of connecting people, across organizations and around the world,” said Rick Calder, GTT president and CEO. “This combination creates a disruptive market leader with substantial scale, unique network assets and award-winning product capabilities to fulfill our clients’ growing demand for distributed cloud networking in Europe, the U.S. and across the globe. Following our successful, proven acquisition model, we expect to complete this integration within three to four quarters.”

“This is an exciting next chapter for Interoute, GTT, our customers and our team,” said Gareth Williams, Interoute CEO. “The combined assets and strengths of our two companies create a powerful portfolio of high-capacity, low-latency connectivity, and innovative cloud and edge infrastructure services to support our customers in the global digital economy.”