Global Telecom & Technology Receives $7.5M from BIA Digital Partners II
Summary
Global Telecom & Technology, Inc., a Washington, DC-based global telecommunications carrier and network integrator, has received a $7.5m investment from BIA Digital Partners II LP.The company use the funds to acquire UK-based PacketExchange, a provider of customized Ethernet network solutions for businesses.The acquisition, which provides GTT with greater business scale and a combined customer base of over 1,200 worldwide clients, as well as an expanded portfolio of data services, was funded primarily through a subordinated debt facility provided by BIA and senior facilities provided by Silicon Valley Bank.BIA has committed additional amounts for future acquisitions as well.Led by President and CEO Rick Calder, Global Telecom & Technology serves the data communications needs of large enterprise, government and carrier clients combining their own network assets with the networks of over 800 suppliers worldwide.
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