When CenturyLink announced an agreed $2.5bn cash and stock bid for Savvis last week it signalled an accelerating push by US telecommunications groups into the rapidly emerging market for ‘cloud-based’ business computing services.

These services, which range from delivering software as a service (SaaS) on a pay-as-you-go basis to providing instant access to IT infrastructure and computing power, are likely to become a key element in many corporate IT strategies over the next five years.

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