Verizon to Acquire Terremark

January 31, 2011 by | Comments

Verizon Communications Inc. and Terremark Worldwide Inc. announced on Jan. 27 an agreement under which Verizon will acquire Terremark, a provider of managed IT infrastructure and cloud services, for $19.00 per share in cash, or a total equity value of $1.4 billion.

Following to the agreement, Verizon anticipated that it will begin a tender offer between Feb.10, 2011, and Feb. 17, 2011, for all shares of common stock of Terremark.

The transaction will boost Verizon’s “everything-as-a-service” cloud strategy by delivering a powerful portfolio of highly secure, scalable on-demand solutions to business and government customers globally through a unified enterprise IT platform and unique business cloud offerings that leverage the companies’ collective strengths, according to Verizon.

Terremark is a well known Infrastructure-as-a-Service player with a proven track record of delivering cloud-based resources with the highest levels of security and availability in the industry.

–(Latest News from Verizon – Top Headlines)–

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