April 28, 2011 — In the battle for enterprise customers, the country’s giant telecommunications and cable companies are going to the cloud.
On Wednesday, CenturyLink, the nation’s third-largest telecommunications company, announced plans to buy Savvis, a data center services business, for $2.5 billion. Under the deal, CenturyLink will assume $700 million in debt and pay Savvis shareholders $40 a share, 11 percent above the stock’s closing price on Tuesday. Read More
