Feeds

GTS snaps up Esprit Telecom

$665 million buys greater access to Euro telecoms market

  • alert
  • submit to reddit

The essential guide to IT transformation

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. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?