The network space saw another M&A hit the wires this morning. GTT Communications has announced the acquisition of the managed services provider Transbeam.
GTT has had quite a year already in M&A. After closing the acquisitions of Hibernia Networks, they bought the operating assets of Perseus and Giglinx. Then over the summer they acquired Global Capacity.
Transbeam operates a national IP/MPLS network but mostly serves enterprises in the Northeast Corridor between Boston and Philadelphia, and has some EoC business that overlaps what GTT recently acquired in the Global Capacity deal. They also have some fixed wireless assets, which GTT is also no stranger to since its acquisition of UNSi a few years ago.
The purchase of Transbeam will cost them $28M. After synergies, the company expects that to work out to 5.0 times adjusted EBITDA or less, with integration to be complete within two quarters of the close. Q Advisors chipped in as financial advisor to Transbeam.
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