Verizon to acquire Terremark for $1.4 billion

Verizon on Thursday announced plans to acquire Terremark, a managed IT infrastructure and cloud services provider known for its advanced security offerings, for $1.4 billion. The deals boosts Verizon to a major player in the cloud circuit. According to a news release, Verizon plans to operate Terremark as a standalone business unit. "Cloud computing continues to fundamentally alter the way enterprises procure, deploy and manage IT resources, and this combination helps create a tipping point for 'everything-as-a-service,'" said Lowell McAdam, Verizon's president and chief operating officer. – DK