Technology Industry
Industry: Email Alert RSS FeedLevel 3 to acquire SAVVIS Content Delivery Network.(MERGERS AND ACQUISITIONS)
Optical Networks/WDM, January, 2007
Level 3 Communications Inc. announced that it has signed a definitive agreement to acquire the Content Delivery Network (CDN) services business of SAVVIS Inc. Under the terms of the agreement, Level 3 will pay $135 million in cash consideration to acquire certain assets, including network elements, customer contracts, and intellectual property used in SAVVIS's CDN business. The purchase price is subject to certain customary post-closing working capital adjustments. SAVVIS's CDN services business, based in Thousand Oaks, California, with approximately 50 employees and over 100 customers, provides solutions that improve performance, reliability, scalability, and reach of customers' online content. Initially developed in 1996 as Sandpiper Networks, the division...
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