International law firm Clyde & Co has successfully advised Global Telecom & Technology Inc (GTT) on its acquisition of UK-based PacketExchange.
The $20m cross-border deal was completed on Monday, June 6, under the advice of Clyde & Co corporate partner Nigel Taylor and associate Christine Brennan with input from across the firm including employment legal director Charles Urquhart.
Patrick Spicer of Matherson Ormsby Prentice advised GTT on Irish law aspects of the deal. Field Fisher Waterhouse advised the shareholders of PacketExchange.
The acquisition will see GTT take control of PacketExchange and its subsidiaries throughout the US, Europe and Asia, serving approximately 500 customers generating over $20 million in annualised revenue post-acquisition.
Clyde & Co partner Nigel Taylor said: "This was a significant deal which will see GTT gain greater scale and a broader global customer base of over 1,200 worldwide clients.
"The size and complexity of the acquisition demonstrates Clyde & Co's diverse experience and expertise throughout all sectors."
GTT is a global telecommunications carrier and leading network integrator serving the data communications needs of large enterprise, government and carrier clients in over 80 countries. The firm combines their network assets with the networks of over 800 suppliers worldwide to deliver cost-effective, scalable solutions supporting each client’s unique requirements. Through their proprietary Client Management Database (CMD), GTT provides streamlined service design and quotation, rapid service implementation, and global 24x7 monitoring and support. GTT is headquartered in the Washington, DC metro region with offices in London, Dusseldorf, and Denver. For more information visit the GTT website at www.gt-t.net