Verizon to Acquire Terremark for $1.4 Billion

(Ping! Zine Web Hosting Magazine) – On Thursday, telecommunications company Verizon Communications announced they have signed a deal to acquire cloud computing company, Terremark. The announcement comes just one day after Verizon noted that cloud computing would play a major role in the company’s future growth strategy.

Terremark sold for $19 a share, making the price tag $1.4 billion for the company.

According to reports, Verizon announced the move would accelerate its “everything-as-a-service cloud strategy.” Along with the sale, Verizon will gain access to Terremark’s government customer base. Terremark currently owns 13 data centers worldwide.