Verizon Buys Terremark for $1.4B

Verizon is buying cloud-service provider Terremark for $1.4 Billion. The purchase will increase Verizon’s cloud computing capabilities and increase its ability to compete against Amazon and other cloud based businesses.

Terremark has done the "hard work" in building the data center, assembling the team and developing relationships, said McAdam. "We can provide the jet fuel to take off, to kick this into a higher gear," he said.

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