Cloud Computing Buyout, CenturyLink Buys Savvis For $2.5 Billion
Cloud computing giant Savvis Inc. was bought out this week by CenturyLink Inc. for $2.5 billion.
The merger was expected after the Federal Communications Commission (FCC) and Savvis shareholders agreed to the buyout earlier in the week.
Savvis currently serves more than 2,500 clients including 30 of the top 100 companies on the Fortune 500.
The company’s Cloud computing product allows organizations to store and share data and programs across their networks with a scaleable model that allows information to be accessed over the internet.
The Monroe, La. based company announced their plans to acquire the Cloud Computing firm in April, shortly after completing a $12 billion acquisition of Qwest Communications, a move that made them the third largest telecom company in the country.