Feeds

GTS snaps up Esprit Telecom

$665 million buys greater access to Euro telecoms market

  • alert
  • submit to reddit

Remote control for virtualized desktops

US-based Global TeleSystems (GTS) is to buy Reading-based Esprit Telecom Group plc for $665 million in stock. The deal means that GTS and Esprit Telecom will have the largest independent cross-border carrier network in Europe. Greater competition from companies such as Cable and Wireless and the planned joint venture of BT and AT&T appears to have prompted the move, according to analysts. When the deal is finalised sometime within the next six months, the two companies will have a stock market capitalisation of around $4.1 billion, a presence in 19 countries throughout Europe and around 3,000 employees worldwide. CEO David Oertle will remain with Esprit Telecom throughout the transition. There are no reports as yet as to whether the deal will create any enforced job losses. GTS is based in Washington DC and owns a number of phone companies throughout Europe. Founded in 1992, Esprit Telecom is a facilities-based provider of telecoms services in Europe, generating more than a billion minutes of traffic a year. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
Inside the EYE of the TORnado: From Navy spooks to Silk Road
It's hard enough to peel the onion, are you hard enough to eat the core?
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.