GTT to Buy Hibernia Networks for $590 Million
Cloud networking provider GTT Communications agreed to pay $590 million for Hibernia Networks in a cash and stock transaction, GTT said in a news release Wednesday. Hibernia owns terrestrial and subsea fiber. GTT expects to close the deal in Q1,…
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subject to FCC OK and other customary closing conditions, the company said. It expects to complete integration within two to three quarters after closing, said GTT CEO Rick Calder.