Verizon acquires cloud software developer CloudSwitch

Verizon has acquired cloud software technology provider CloudSwitch. Verizon plans to combine CloudSwitch with its Terremark IT services subsidiary, to accelerate the company's global cloud strategy by enhancing Verizon's hybrid-cloud and cloud-to-cloud capabilities. CloudSwitch develops software designed to enable enterprises to move applications, or workloads, between company data centres and the cloud without changing the application or the infrastructure layer. Financial terms related to the transaction have not been disclosed.