Tysons-based GTT Communications buys again

Tysons-based cloud provider GTT Communications Inc. is growing again through an acquisition.

GTT (NYSE: GTT) paid $40 million to buy Cary, North Carolina-based Access Point — $35 million in cash and $5 million in stock, or 115,194 GTT shares. With Access Point, per a release, GTT adds a “growing roster of strategic U.S. enterprise clients” with “significant upsell opportunities.”

“Access Point’s strong client relationships in key vertical markets make it a compelling strategic fit for GTT,” GTT President and CEO Rick Calder said in a release.

GTT owns and operates a global Tier 1 internet network. In June, it closed on its $2.3 billion cash purchase of Interoute, the operator of one of Europe’s largest private fiber networks.

It is the 46th largest public company in Greater Washington, according to WBJ research, with $827.9 million in 2017 revenue, more than 1,200 employees and a $2.75 billion market cap.

Read the full story from the Washington Business Journal.