Newly Formed GTT Launches as Global VNO Leader
McLEAN, VA and LONDON, 26 October 2006 - Following approval by its
stockholders, Mercator Partners Acquisition Corp. (MPAC) has acquired all outstanding
shares in European Telecommunications & Technology Ltd (ETT) and Global
Internetworking, Inc. (GII) and has subsequently changed its name to Global Telecom &
Technology, Inc. (GTT) (OTCBB:MPAQ). GTT is a leader within a new breed of
telecommunications service providers: Virtual Network Operators (VNOs). VNOs do not
own the infrastructure upon which their services are provided. Instead, they design
solutions based on an optimal combination of traditional telecommunications carriers’
assets. VNOs then procure, integrate and manage this “best-of-breed” solution on their
customers’ behalf.
The new company fulfils a growing need from both enterprises and carriers for flexible,
technology independent, price competitive, end-to-end global telecoms services. GTT,
utilising a virtual network operator model, is focused on addressing the traditional
telecom providers’ points of weakness by offering high levels of customer service, turn-
key, global end-to-end solutions and lower total cost of ownership.
“We are launching GTT with unique assets and capabilities”, said Mike Keenan, chief
executive officer, GTT. “We have a proven track record of success with blue chip
customers complemented by extensive vendor partnerships. We have an innovative set of
service management tools that support speed to market and top-notch customer service.
And, we have a seasoned management team partnered with a world-class board of
directors. Most importantly, we offer a fundamentally better way for customers to buy
and manage their communications requirements because we build solutions around the
needs of our customers, not the constraints of a particular network or technology.”
Currently, GTT provides a global service footprint covering more than 50 countries. The
company has more than 200 customers and in excess of 100 carrier partnerships around
the world. ETT and GII had combined annual revenues of approximately $49 million in
their last fiscal year.
GTT brings together complementary customer bases, geographical coverage and
capabilities. ETT was primarily focused on servicing multinational enterprises across
EMEA while GII concentrated on carrier and service provider customers in North
America.
Mr. Keenan continued, “We believe that as companies’ enterprise networking
requirements become more complex and international in scope, the traditional “network
centric” approach does not meet customers’ business or service level requirements. To
meet these needs, we intend to assemble customer solutions from best in class networks
and offer them to our customers, along with high levels of customer service.”
The new company will boast a world-class senior management team with a strong track
record of success in the sector. The board of directors is headed up by Brian Thompson.
Prior to joining GTT, Mr. Thompson served as chairman and chief executive officer of
Global TeleSystems Group, Inc. and chairman and chief executive officer of LCI
International.
Michael Keenan, co-founder and chief executive officer of GII, has become GTT’s new
chief executive. He has over twenty-five years of experience building, managing and
investing in successful businesses. Other members of the new GTT board include: Alex
Mandl, previously chief operating officer of AT&T and currently a board member of Dell
Inc; Didier Delepine, formerly president, CEO and chairman of the management board of
Equant and Howard Janzen, who was most recently president of Sprint Business
Solutions.
“The formation of GTT is the culmination of a meticulously planned process, which
includes a carefully structured approach to key markets,” says Chris Britton, executive
VP EMEA, GTT. “We firmly believe that this will provide our customers with enhanced
choice and the opportunity to achieve broader international coverage.”
Forward Looking Statements
This press release contains statements made as of the date hereof about future events and
expectations, which are “forward-looking statements.” Any statement in this release that
is not a statement of historical fact may be deemed to be a forward-looking statement.
These statements are based upon management’s current beliefs or expectations and are
inherently subject to significant business, economic and competitive uncertainties and
contingencies, many of which are beyond our control. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the
company’s actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by such forward-
looking statements. These factors, together with those risk factors discussed in the
company’s filings with the Securities and Exchange Commission, should be considered
in evaluating the forward-looking statements, and undue reliance should not be placed on
such statements. The company does not undertake any obligation to update any forward-
looking statement to reflect circumstances or events that occur after the date such
forward-looking statement has been made.
About GTT
Formed in October 2006, following the acquisition by Mercator Partners Acquisition
Corp. (MPAC) of all the outstanding shares of Global Internetworking Inc and European
Telecommunications & Technology Limited, Global Telecom & Technology, Inc (GTT)
(OTCBB:MPAQ) becomes one of the world’s leading virtual network operators (VNOs).
Headquartered in McLean, Virginia, GTT will provide a global service footprint,
covering more than 50 countries and has more than 200 customers and in excess of 100
carrier partnerships around the world.
