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Savvis, After Denying Hiring Bankers, Inks $2.5 Bln Sale to CenturyLink

Posted on: April 27, 2011 by Luisa BeltranNo Comments »

I hate it when companies fudge.

In March, I reported that Savvis was in talks to sell itself and had hired Qatalyst Partners. Well I was apparently wrong about Qatalyst but I was right about the sales talks. Today, Savvis announced that it has agreed to sell to CenturyLink for $2.5 billion. CenturyLink is also assuming about $700 million in debt.

Savvis’s sale has long been expected. In January, Verizon Communications announced its $1.4 billion takeover of Terremark Worldwide. Time Warner, five days later, then followed up with a $230 million deal for Navisite.

Top 10 Hub Posts This Week

Posted on: March 11, 2011 by Lawrence J. AragonNo Comments »

Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the posts written by our staff that garnered the most pageviews from March 7 to March 11.

1. Disqus to Facebook: “We Aren’t Shaking In Our Boots” – by Connie Loizos.

2. Is Savvis Finally Up for Sale? Tech Co. Said to Have Hired Qatalyst – by Luisa Beltran.

3. Schwarzman, At $5.9B, Among Richest LBO Pros (Well Ahead Of Kravis) – by Steve Bills.

4. Summit Partners Raising $3B Growth Equity, $450M Venture Funds – by Mark Boslet.

5. Doerr, Moritz Make Forbes’ Billionaire List; Will They Make the Resurrected Midas List, Too? – by Alastair Goldfisher.

6. Israeli Venture Funds Raised Zero Dollars in 2010; The Situation is “Critical” – by Connie Loizos.

7. HCA Doesn’t Look So Bad. Here’s The Top 10 PE-backed IPOs – by Luisa Beltran.

8. It Took Two Years But Wynnchurch’s Third Fund Comes In at $603M – by Luisa Beltran.

9. This Anti-Registration Campaign Might Have Legs – by Bernard Vaughan.

10. Sequoia, Google Ventures Join $32M Round For HubSpot – by Mark Boslet.

Savvis Denies Hiring Qatalyst To The Wall Street Journal

Posted on: March 7, 2011 by Luisa BeltranNo Comments »

Last week, I reported that Savvis, the data center operator, had talked to Qatalyst Partners, the investment bank founded by tech i-banker Frank Quattrone, about a possible sale. I cited three sources. I also included a separate person saying any hiring wasn’t definitive and another source saying that Savvis has been out hunting for a banker.

Basically, I gave you all the information that I had and even referred to it as “rumor.” A Savvis spokesman declined to comment in an email.

Savvis To Buy Fusepoint

Posted on: June 1, 2010 by PEHub AdministratorNo Comments »

M/C Venture Partners has agreed to sell Fusepoint Inc., a provider of managed IT and colocation services to enterprises in Canada, to Savvis Inc. (Nasdaq: SVVS). The deal was valued at $124.5 million in cash.