Time Warner Cable Buys NaviSite for $230 Million
The cloud computing buyout binge blitz is on. Time Warner Cable will acquire managed hosting and cloud services provider NaviSite for $230 million, marking the second deal in a week in which a major network operator has bought a cloud service provider. Last Thursday Verizon said it would buy Terremark for $1.4 billion.
Time Warner Cable (TWC) said it would pay $5.50 for each share of NaviSite (NAVI) , representing a 33 percent premium to today’s closing price of $4.13. Time Warner said it saw hosting and cloud services as a “great opportunity.”
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