KPN of the Netherlands has agreed to sell its KPN International division to GTT Communications, a US-based global cloud networking provider, for around EUR50 million (USD56 million) in cash. KPN International operates a global IP network serving Dutch and overseas enterprise and carrier clients with connectivity and value-added services. The deal transfers more than 400 clients to GTT, which will be the preferred international network supplier for an additional 400 clients retained by KPN. The acquisition is expected to close in the third quarter of 2019 subject to regulatory approvals.
GTT says the purchase of KPN International adds depth to the existing GTT Tier 1 global IP network in Europe across 21 countries, including long-haul fibre routes and metro rings in Frankfurt, London, Amsterdam and Paris, and complements GTT’s portfolio with similar best-in-class transport and infrastructure, internet, and wide area networking services.