Verizon‘s (NYSE: VZ) board of directors has named company president and COO Lowell C. McAdam as Verizon Communications Inc. president and CEO, effective Aug. 1. Current CEO Ivan Seidenberg will remain chairman to help the succession process, which began in 2010. Prior to joining Verizon in 2000, McAdam was president and CEO of Bell …

Northrop Grumman (NYSE: NOC) is leading a team as the prime contractor on the Centers for Medicare and Medicaid Services‘ predictive modeling development task order to examine incoming program claims and identify fraud before payments are made. The team is using team member Verizon‘s (NYSE: VZ) predictive modeling technology to support CMS’ national …

Terremark, now a subsidiary of Verizon, announced that the Delaware Court of Chancery will hold a hearing on June 21 “to consider the proposed settlement of litigation brought in connection with Verizon’s acquisition of Terremark.” The firms noted that if the settlement is not approved, they will defend against the …

Terremark (NASDAQ:TMRK) released the following statement: The firm “has entered into a memorandum of understanding providing for the settlement of all eight putative class action lawsuits that have been brought in Delaware and Florida in connection with the previously announced agreement and plan of merger dated Jan. 27, 2011 among …

Terremark (NASDAQ:TMRK) issued financial results for the quarter ended Dec. 31, 2010. The firm grew, “with total revenues of $94.3 million and EBITDA, as adjusted, of $28.5 million for the quarter, representing year-over-year increases of 27 percent and 44 percent, respectively.” Verizon previously reached a definitive agreement to purchase Terremark …

Verizon and Terremark Worldwide have reached an agreement that will see the communications giant acquire the managed IT infrastructure and cloud services provider for $1.4 billion. The move impacts Verizon’s cloud strategy by creating a stronger “portfolio of highly secure, scalable on-demand solutions to business and government customers globally through …

According to the Department of Defense, “AT&T (NYSE: T) Sprint-Nextel (NYSE: S), T-Mobile and Verizon Wireless (NYSE: VZ) are each being awarded an indefinite-delivery/indefinite-quantity multiple award task order contract to provide wireless service and devices to the Navy.  The maximum dollar value, including the base period and one six-month option …

According to the Department of Defense, “BAE Systems was awarded an $11, 014, 052 firm-fixed-price contract.  This contract is for the acquisition of 390 L-Rod aluminum bar armor kits, associated bracketry required for kit installation, and field service representative support outside the contiguous United States, for the RG-31 Mine Resistant …

Verizon Business was placed in the “Leaders quadrant” in the new report “Magic Quadrant for Communications Outsourcing and Professional Services, North America” by Gartner Inc. According to Verizon, “Gartner examined 17 U.S.-based providers of IT services for business communications systems – including both fixed and mobile connectivity.  Specific IT services …

According to UPI.com, last week, Verizon announced that it has been awarded a contract to support NATO with networking and security services at approximately 30 locations on the agency’s network. The contract is worth $5 million, and calls for Verizon to integrate secure gateways for the Internet and gateways for …