Verizon buys CloudSwitch to boost Terremark

Reuters News
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Posted: Aug 25, 2011 4:04 PM
Verizon buys CloudSwitch to boost Terremark

NEW YORK (Reuters) - Verizon Communications said on Thursday that it had bought privately held software developer CloudSwitch to boost its business services division.

The deal is part of a continued push by Verizon in to enterprise services. It plans to merge Burlington, Massachusetts-based CloudSwitch with Terremark, an information technology services provider it bought in April for $1.4 billion.

CloudSwitch brings Verizon software that helps enterprises to securely move applications between data centers. The companies did not disclose the terms of the deal.

Verizon shares were down 2 percent at $35.71 in late trading on New York Stock Exchange.

The companies did not disclose the terms of the deal.

(Reporting by Sinead Carew; editing by Matthew Lewis)