GTT Acquires PacketExchange For $20 Million In Cash, Debt

Global Telecom & Technology (GTT), a global carrier and network integrator, has acquired privately-held UK company PacketExchange in an effort to scale its business internationally. GTT will pay up to $20 million in cash and assumed debt to buy PacketExchange, which serves approximately 500 customers (carriers, ISPs, etc.). PacketExchange is said to generate over $20 million in annualized revenue post-acquisition.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/YXjdeBizyp8/

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