Edwards Wildman have advised GTS, on the completion of its sale to Deutsche Telekom, for a total consideration of €546 million. GTS are one of the top infrastructure-based telecommunications service providers in South East and Eastern Europe. They are currently owned by a consortium of international private equity firms, which includes Bessemer Venture Partners, Columbia Capital, HarbourVest Partners, Innova Capital, MC Partners and Oak Investment Partners.
GTS serves nearly 38,000 customers from its 26,000km fibre optic network and 14 state-of-the-art data centres in the Czech Republic, Hungary, Poland, Romania and Slovakia. While the activities of GTS Central Europe in Slovakia will remain with the Sellers, GTS’ existing and prospective customers will benefit from the backing by Deutsche Telekom through expanded European and Global network reach, access to fixed-mobile convergent service offerings. The sale also allows Deutsche Telekom to enhance its capabilities to offer pan-European telecommunication services as well as integrated products in countries where they currently maintain no adequate fixed access network infrastructure.
Edwards Wildman’s corporate and private equity team was led by Shawn Atkinson, with assistance from Michael McCormack, Jill Hanson and Costa Smith. The office’s EU Competition team also played a significant role led by partner Becket McGrath with assistance from Trupti Reddy. Boston-based partners Steve Meredith and Scott Pinarchick led the US team.
Steve Meredith and Scott Pinarchick originally advised lead investors Columbia Capital and MC Partners on the original acquisition in 2008 whilst Shawn Atkinson advised Bessemer Venture Partners.
