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Verizon Boosting Its Cloud Computing Push

January 28, 2011 No Comments

SOURCE:  LA Times

Verizon is set to buy Terremark, an information technology services company, for $1.4 billion, part of an effort from the wireless carrier to boost its cloud-computing abilities.

The purchase offer of $19 a share in cash is a 35% premium over Terremark’s Thursday closing stock price of $14.05 a share. In a filing submitted to the Securities and Exchange Commission, Terremark said it accepted Verizon’s offer.

By buying Terremark, Verizon hopes to “deliver business intelligence and collaboration services to anyone, anywhere and on any device,” Lowell McAdam, Verizon’s president and chief operating officer, said in a statement.

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CLOUD COMPUTING, DATA and ANALYTICS , News

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