Pleasanton, Calif. – April 1, 2015 – MegaPath, one of the leading providers of voice, data, security and cloud services in North America, today announced the completion of the sale of its Managed Services business division to GTT Communications, Inc. (NYSE:GTT), a leading global cloud networking provider to multinational clients.
Under this agreement, GTT will pay $144.8 million in cash and $7.5 million in GTT common stock to acquire MegaPath’s managed services division, which provides private networking, access services and managed security services to more than 500 large enterprise clients. MegaPath will dedicate the resources from the sale to driving revenue growth and investing more heavily in expanding its core cloud services, including Hosted Voice and Unified Communications.
“This deal further positions MegaPath to focus on its strategic vision of becoming a leading global cloud services provider,” said D. Craig Young, Executive Chairman, MegaPath. “The company is in an exciting position to place an even greater emphasis on investments in our Cloud and Unified Communications service offerings to drive growth in these expanding markets.”
MegaPath is a leading business communications and network provider that helps businesses fully leverage the cloud. MegaPath’s award-winning service portfolio includes Voice, Unified Communications, SD-WAN, WiFi, and Internet services, backed by dedicated project management and 100% US-based technical support. MegaPath is uniquely positioned to deliver custom managed solutions to businesses that desire a broad range of high-value services from a single nationwide provider. With over twenty years of expertise, MegaPath empowers businesses of all sizes to simplify operations, improve communications, increase productivity, and lower costs.
To learn more about MegaPath’s leading service offerings, please visit www.megapath.com.
MegaPath Media Contact:
Welz & Weisel Communications