Verizon Communications will buy IT and cloud services company, Terremark Worldwide, for $1.4 billion, Financial Times reports. The U.S. telecommunications group will acquire Terremark to expand its services that allows corporate customers store data and programs offsite. Verizon will pay $19 per share in cash for Terremark. Goldman Sachs and Weil, Gotshal & Manges advised Verizon in the transaction, while Terremark was represented by Credit Suisse Securities and Greenberg Traurig.
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