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

By Luisa Beltran — 5 years ago

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

By Lawrence Aragon — 5 years ago

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

By Luisa Beltran — 5 years ago

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

By PEHub Administrator — 6 years ago

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.