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GTT Communications To Sell Infrastructure Division To I Squared Capital For $2.15 Bln

GTT Communications Inc. (GTT) agreed to sell its infrastructure division to I Squared Capital, an independent global infrastructure investment firm, for $2.15 billion.

The infrastructure division consists of GTT's business and activities of providing Pan-European, North American, sub-sea and trans-Atlantic fiber network and data center infrastructure services to customers.

The acquisition is expected to close during the first half of 2021.

The total consideration includes an upfront cash payment of $2.02 billion at closing and total deferred payments of up to $130 million based on certain financial results.

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