Verizon Communications acquired Terremark earlier today for $19.00 per share in cash, or a total equity value of $1.4 billion. Terremark, which is headquartered in Miami, operates 13 data centers in the U.S., Europe and Latin America (Miami, Dallas, Wash. D.C., Santa Clara, Bogota, Saol Paolo, Santo Domingo, Amsterdam, Brussels, Madrid and Istambul. It provides secure cloud computing, colocation, and managed hosting services. For its most recent quarter, Terremark reported revenue of $84.9 million, a 22% increase over the previous year.
“Cloud computing continues to fundamentally alter the way enterprises procure, deploy and manage IT resources, and this combination helps create a tipping point for everything as a service,” said Lowell McAdam, president and chief operating officer of Verizon. “Our collective vision will foster innovation, enhance business processes and dynamically deliver business intelligence and collaboration services to anyone, anywhere and on any device.”
