US telco Verizon Communications has underlined its intentions to strengthen its position in the cloud computing market by acquiring cloud software provider CloudSwitch for an undisclosed fee.
Verizon said in a statement that it plans to combine…
US telco Verizon Communications has underlined its intentions to strengthen its position in the cloud computing market by acquiring cloud software provider CloudSwitch for an undisclosed fee.
Verizon said in a statement that it plans to combine CloudSwitch with Terremark, the data centre provider it acquired for US$1.4bn in April.
Verizon said that CloudSwitch software will allow companies to move applications or workloads between data centres and the cloud in an easier and more secure way, without having to change the infrastructure or application layers in their systems.
According to Verizon, this will eliminate “a key barrier to widespread cloud adoption”.
The president of Verizon’s global enterprise unit, Bob Toohey, said: “The cloud market is a rapidly growing opportunity, with very real benefits both for our business customers and the consumers they serve.”
A Verizon spokeswoman told TelecomFinance that the company had not used any financial advisers for the deal, but they had used Weil, Gotshal & Manges as a legal adviser.
