GTT completes infrastructure sale; I Squared renames assets as EXA

20 Sep 2021

GTT Communications has announced the completion of the sale of its infrastructure division to I Squared Capital. The division consists of a pan-European, North American, and subsea fibre network and data centre assets and associated infrastructure services provided to customers. The deal, which was announced in October 2020, was valued at USD2.15 billion.

Post-closing, new owner I Squared has announced that the acquired assets have been rebranded as EXA Infrastructure. The new company, which will be based in London, serves customers across 103,000 route kilometres of fibre that connects 300 cities. The network includes dense metropolitan footprints, connected by multiple inter-city routes and pan-continental subsea cables.

Gautam Bhandari, Managing Partner at I Squared Capital, commented: ‘This is the second, complex carve-out of fibre and data centre assets from an integrated telecom company to an independent, carrier-neutral infrastructure platform that we have completed … Combined with our recent transactions for Ezee Fiber in Texas and KIO Networks in Mexico, I Squared Capital has committed over USD3 billion to digital infrastructure with over 120,000 route kilometres of fibre across the Americas, Europe and Asia.’

United Kingdom, United States, EXA Infrastructure, EXA Infrastructure (previously GTT)