Deals
GTT Sells Infrastructure Unit to I Squared for $2.15 Billion
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GTT Communications Inc. agreed to sell its fiber and data center infrastructure division to I Squared Capital for $2.15 billion, as the telecom carrier focuses on its cloud networking business.
The Miami-based private equity firm will acquire GTT’s Europe and North America sub-sea fiber network, data center infrastructure and services for $2.02 billion in cash upfront as well as a $130 million deferred payment when the company meets certain milestones, GTT said in a statement on Friday.