GTT to acquire Hibernia Networks for USD 590 million

(Telecompaper) GTT Communications announced a definitive agreement to acquire Hibernia Networks, owner of the trans-Atlantic cable system Hibernia Express. GTT will pay USD 590 million for the takeover, including USD 515 million in cash and 3.3 million of its shares. GTT said the acquisition will expand its portfolio of cloud networking services, significantly increase the scope of its global network, and grow its multinational client base.