Tag Archives: Verizon

Terremark-Verizon Acquisition Hearing Set; Firms Plan to Fight if Settlement is Not Approved

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 …

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Terremark Settles Verizon Acquisition Suits

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 …

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Terremark Issues Financial Report on Heels of Verizon Sale

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 …

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Verizon to Acquire Cloud Specialist Firm Terremark for $1.4 Billion

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 …

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BAE Systems, AT&T, Sprint-Nextel, Verizon Ink DoD Contracts

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 …

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Kerry Bailey on Verizon Business’ ‘Leadership Quadrant’ Placement

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 …

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Qwest to Stop Wireless Service on October 31

Qwest International Inc. will stop providing wireless phone service on Oct. 31, as the company seeks to exit from the wireless business.  Last year, the company began transitioning its wireless customer base to Verizon Wireless, and last month, Qwest said that over 75% of its wireless customer base had migrated to the Verizon Wireless …

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Verizon Business Wins $140M Networx Universal Task Order

The Social Security Administration (SSA) has awarded Verizon Business with a $140 million Neworx Universal task order. Under the contract, Verizon will manage the network services and help develop and manage the SSA Enterprise-Wide Network Infrastructure (SSANet). The company will also direct the transition to a modern IP platform based …

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Verizon Renews $140M-Potential Social Security Administration Contract

Verizon has signed a contract set to expire in 2017 with the US Social Security  Administration worth up to $140 million if all options are exercised.  Verizon, the largest communications provider to the US government, will renew its partnership with the SSA by providing IP Addresses and data services through the SSA’s …

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