GTT Communications - Fastest-Growing Company of the Year
Company: GTT Communications, Inc., McLean, VA, USA
Company Description: GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide area networking, Internet, managed services, voice services and video services. The company’s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest-Growing Company of the Year - in Canada and the U.S.A.
Nomination Title: GTT Communications, Inc.
Tell the story about the growth of this nominated organization since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Begin this section with the following two lines: Year over year revenue growth (%): Year over year employee growth (%):
GTT is a leading provider of cloud networking services and one of the fastest-growing companies in telecommunications. Founded in 1998, GTT delivers services to over 6,600 customers worldwide, providing multinational enterprises with a better way to reach the cloud.
GTT has experienced dynamic growth and financial success since it was founded, but the past year has been particularly exceptional. During this time, GTT has aggressively grown its service portfolio, increased its network in both depth and breadth, and expanded its physical presence around the world. In an industry of falling prices, commoditization and heavy M&A activity, GTT has been resilient and profitable, carving a significant niche as a fast-growing, leading challenger brand.
Focused Growth Strategy
The company’s success is driven by its highly targeted strategy: expand cloud network services to multinational clients, extend network connectivity worldwide and deliver outstanding client service with simplicity, speed and agility.
GTT’s strategy has delivered substantial growth, fueled by both organic sales and strategic acquisitions. In 2016, the company grew revenue 41.3% to $521.7 million and Adjusted EBITDA 62.3% to $125.0 million over 2015. This is unprecedented growth for any company, but it is especially notable in this competitive market sector.
GTT completed five acquisitions from 2016-2017. In early 2016, the company finalized the integration of managed communications service provider One Source Networks, adding voice services to its existing cloud networking portfolio. GTT also acquired Yipes, RealLinx and Telnes Broadband, expanding the company’s channel program.
In November 2016, GTT announced the acquisition of Hibernia Networks, a leading provider of global, high-speed network connectivity solutions and owner of terrestrial and subsea fiber assets.
Service and Network Expansion
GTT’s network infrastructure growth has been significant since year-end 2015. With the integration of One Source Networks, GTT gained a next-generation global SIP-based voice network. It also added new optical and video PoPs and expanded its existing IP and Ethernet footprint through the acquisition of Hibernia, bringing the company’s reach to over 300+ PoPs worldwide.
In addition to expanded network infrastructure, GTT has grown its cloud networking service portfolio by 50% since year-end 2015 with the addition of Voice services, Optical transport and Video. The company also recently added managed SD-WAN and DDoS mitigation to its existing suite of Managed Services.
GTT’s physical presence has been augmented with new offices in Boston, Denver, Summit (New Jersey) and Halifax, Nova Scotia, in North America; Dublin, Ireland, and Southport, UK, in Europe; and Pune, India, in Asia. These additions increased the company’s global presence from 17 to 24 worldwide offices. GTT’s global employee base grew from 572 at year-end 2015 to 830 by March 2017, a growth rate of 69%
GTT garnered numerous awards recognizing outstanding performance and growth, including gold Stevie awards in the 2017 ABAs for Telecommunications Company of the Year, Executive of the Year and Fastest Growing Company of the Year. GTT was also named Company of the Year (Public) in the 2017 Leading Lights Awards. In 2016, the company won a gold Stevie ABA for Telecommunications Company of the Year and silver Stevie awards in both the IBAs and ABAs for Fastest Growing Company of the Year. GTT was also named Growth Company of the Year at the ACG Corporate Growth Awards. The company’s success has received attention in the analyst community, with a 388% increase in analyst engagement since year-end 2015, and the company being named to the Gartner Magic Quadrant for Global Network Service Providers.
GTT’s success makes the company a premier candidate in the fastest growing company category in the International Business Awards. The company’s ability to grow its leadership, successfully meet aggressive financial goals, and seamlessly add new services, infrastructure and capabilities is unique in the industry. These qualities make GTT well positioned to achieve its next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA.
In bullet-list form, briefly summarize up to ten (10) growth-related achievements of the nominated organization since 1 January 2016 (up to 150 words).
-Grew 2016 revenue 41.3% to $521.7 million and Adjusted EBITDA 62.3% to $125.0 million over 2015
-Increased the number of employees by 69%, from 572 employees at year-end 2015 to 830 in March 2017
-Expanded service portfolio by more than 50% through the acquisition of One Source Networks (voice and unified communications) and Hibernia Networks (optical transport and video services), and further addition of Managed SD-WAN and DDoS
-Added next-generation, SIP-based voice network
-Expanded network to 300+ global PoPs and added two new service types (optical and video)
-Increased the number of worldwide offices from 17 to 24 – a growth rate of nearly 50%
-Increased analyst engagement from 8 to 39, an approximate growth rate of 388%
-Received multiple awards for fastest growing company, including the 2016 and 2017 ABAs, 2016 IBAs and Growth Company of the Year at the 2016 ACG Corporate Growth Awards