[April 27, 2011] CenturyLink to Acquire Savvis Tweet (MarketNewsVideo.com Via Acquire Media NewsEdge) Telecom company CenturyLink (CTL) said today it has agreed to acquire cloud computing infrastructure and hosted IT solutions company Savvis (SVVS) for a total of $2.5 billion in cash and stock, plus net debt of $0.7 billion. The deal values Savvis at $40 per share, and Savvis shareholders will receive $30 per share in cash and $10 in CentryLink common stock. The offer is an 11% premium over Savvis' closing stock price as of yesterday, and a 53% premium over its closing price at the beginning of the year, CenturyLink said. CenturyLink said the acquisition will help it achieve global scale as a managed hosting and collocation provider, and will accelerate its ability to deliver quality managed hosting and cloud capabilities for business customers. The transaction is subject to approval by Savvis shareholders and regulators, and is expected to close in the second half of the year. The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=201104CTL042711&mv=1. [ Back To TMCnet.com's Homepage ]