Mergers and Acquistions News
Categories: IT Services & Consulting
February 4th 2011, 15:57PM
Telecoms giant Time Warner Cable is eyeing up NaviSite as it attempts to use mergers and acquisitions to move further into the cloud computing and data centre sector.
According to Time Warner Cable, the acquisition is a logical move for the firm.
Glenn Britt, chairman and chief executive officer at the company, said: "NaviSite provides us with a successful managed services business and a new, innovative managed cloud platform representing significant new growth opportunities."
He added that the acquisition would allow Time Warner Cable to build on NaviSite's successful enterprise-level offerings and boost the company's operational capabilities and infrastructure expertise.
He concluded that the creation of a robust managed service offering aimed at small and medium-sized enterprises would be a major step forward for both companies.
Time Warner Cable is expected to pay $230 million (£143 million) for NaviSite.
Recently, the UK's BSykB confirmed it was set on acquiring The Cloud, a European based Wi-Fi specialist.
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