One Source Networks Acquired By GTT For $175M

Austin-based One Source Networks, a provider of managed network services, has been acquired by GTT Communications, in a deal worth $175M. GTT will pay $165M in cash and $10M in stock for One Source Networks. One Source offers up cloud-based PBX, call center, trunking, network management and monitoring, and other related services. The companies said one Source had reveies of $74.6M for the 12 months ended June 30th. One Source Networks is led by Ernst Cunningham.