Tuesday, May 6, 2008

VC group to buy telecom GTS Central Europe

By Mass High Tech

Boston-based M/C Venture Partners and Columbia Capital, which operates an office in Waltham, are part of a syndicate of private equity firms that bought alternative telecommunications service operator GTS Central Europe, officials said.

Financial terms of the acquisition were not disclosed.

GTS Central Europe, which operates in the Czech Republic, Poland, Hungary, Romania and Slovakia, reported 2007 revenue of nearly $620 million, officials said.

Investors also included Innova Capital; HarbourVest Partners LLC, which operates a Boston office; Oak Investment Partners, based in Westport, Conn.; and Bessemer Venture Partners, which operates an office in Wellesley Hills.