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Verizon to acquire Terremark

Verizon has announced a $1.4bn (£880m) deal to acquire global managed IT and cloud services providers Terremark.

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Verizon has announced a $1.4bn (£880m) deal to acquire global managed IT and cloud services providers Terremar...

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The deal is aimed at fostering innovation, enhancing business processes and delivering business intelligence and collaboration services on any device, said Verizon.

The planned acquisition will help move Verison in the direction of implementing its "everything-as-a-service" cloud strategy, according to US reports.

Verizon said it plans to operate Terremark, which runs 3 data centres in the US, Europe and Latin America, as a wholly-owned subsidiary with the same name and current management team.

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