Jan 2, 2007 : Savvis Sells CDNs, Adds Data Centers
📅 - Network operator and managed Web hosting provider SAVVIS (savvis.com) announced plans to spend $200 million this year to develop four new data centers.
Savvis intends to locate the new data centers in Atlanta, Georgia, New York, New York, Washington, DC and Santa Clara, California, and plans to open them by the fourth quarter of 2007. The company estimates the new data centers will add about $50 million in revenue during their first full year of operations.
Funding for most of the project will come from the sale of the company's content delivery network services business to telecommunications service provider Level 3 Communications for $135 million.
Level 3 says the Savvis assets it is acquiring include customer contracts and intellectual property. The deal, expected to close in the first quarter of 2007, is the latest in a string of acquisitions by Level 3, which agreed in 2006 to buy rival Broadwing as well as privately-held Looking Glass Networks, TelCove and ICG Communications.
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