GTT Communications is planning to sell its infrastructure division to I Squared Capital for $2.15 billion.
The infrastructure division consists of GTT’s business and activities providing Pan-European, North American, subsea and trans-Atlantic fiber network and data center infrastructure services to customers, according to the company.
“The divestment of the highly differentiated infrastructure division assets will ensure greater focus on network investment and development of high-speed infrastructure services under the more specialized ownership of this experienced investor,” said Ernie Ortega, chief revenue officer and interim CEO of GTT. “The deal enables GTT to reinforce its capex-light business model as well as its cloud networking focus and will benefit both enterprise and infrastructure clients alike.”
As part of the deal, I Squared Capital will acquire a 103,000-route-kilometer (64,000-route-mile) fiber network, spanning 31 metro areas and inter