GTT Communications seeks acquisition financing via KeyBanc, Webster

By Angela McDaniels

Tacoma, Wash., Feb. 20 – GTT Communications, Inc. has engaged KeyBanc Capital Markets Inc. and Webster Bank, NA to arrange debt financing for its acquisition of MegaPath Corp.’s managed services division, according to a company news release.

GTT agreed to buy the division for $144.8 million of cash and $7.5 million of GTT common stock.

The parties expect to close on April 1 after obtaining regulatory approvals.

McLean, Va.-based GTT provides cloud networking services.

MegaPath is a cloud communications company based in Pleasanton, Calif. Its managed services business provides private wide-area-networking, internet access services, managed services and managed security.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.