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Time Warner Cable buys NaviSite for US $230 million

Time Warner Cable has announced that it has acquired NaviSite, a provider of enterprise-class hosting, managed application, messaging and cloud services, for US$5.50 per share in cash, or US$230 million. The transaction is expected to close in the second quarter of 2011.

NaviSite provides companies with enterprise hosting capabilities, application management and cloud services. The company currently operates ten data centres in the United States and the United Kingdom, including two SAS 70 Type II certified data centres, and network operations centres in Gurgaon, India and Andover, Massachusetts.

Source: Tech Crunch

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