Global Telecom & Technology, Inc., a global telecommunications carrier and leading network integrator serving the data communications needs of large enterprise, government and carrier clients, announces the completion of its acquisition of UK-based PacketExchange.

This acquisition provides GTT with greater business scale and a combined customer base of over 1,200 worldwide clients. GTT will add significant network assets in North America, Europe, and Asia as well as an expanded portfolio of data services, including: Global Ethernet, Global Peering, Collaborative Networking, Cloud Networking, Dedicated Internet Access and Transit as well as Network Infrastructure-as-a-Service, complete end-to-end managed network solutions.

Officially announced on May 23, 2011, GTT has moved rapidly to integrate the network assets, services and clients into its proprietary Client Management Database (CMD) to ensure seamless high-quality support of ongoing client installations, service delivery and network support.

"We are excited with the rapid progress in closing and integrating the PacketExchange acquisition,” states Rick Calder, President and Chief Executive Officer of Global Telecom & Technology. “The combination advances our growth strategy to scale the business globally through both organic growth and strategic acquisitions.

The acquisition was funded through an expanded term loan facility with GTT’s existing lender, Silicon Valley Bank and a new term loan facility from BIA Digital Partners, a private investment firm with a focus on mid to later-stage companies.