Verizon to buy Terremark for USD 1.4 billion

News Broadband Global 28 JAN 2011
Verizon to buy Terremark for USD 1.4 billion
Verizon Communications has agreed to buy Terremark Worldwide for USD 19 per share, giving the company an equity value of USD 1.4 billion. Operating 13 data centres in the US, Europe and Latin America, Terremark offers cloud computing, colocation and managed hosting services. Verizon said the takeover will enhance its 'everything-as-a-service' strategy, to deliver unified cloud and IT services for businesses. It will retain the Terremark name, the company will oeprate as an independent unit within Verizon. The offer is a 35 percent premium on the Terremark share price on 27 January, and Terremark's board has unanimously approved the transaction. Three Terremark stockholders holding a total 27.6 percent of the company's shares have already agreed to sell to Verizon. Verizon expects to close the tender offer late in the first quarter of 2011.

Categories:

Fixed

Companies:

Terremark,  Verizon Communications

Regions:

Global

Tags:

Hosting - cloud - data centres, Wholesale, Enterprise, M&A buyouts & divestments

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