(July 12, 2011) Savvis Inc.'s pending $2.5 billion acquisition by CenturyLink Inc. was approved Tuesday by the Federal Communications Commission.
Telecom company CenturyLink (Nasdaq: CTL), based in Monroe, La., announced its plans to buy the Town & Country-based data and cloud computing services company (NASDAQ: SVVS) in April.
The companies said Tuesday that the deal already received an early termination notice of the waiting period under the Hart-Scott-Rodino Act from federal antitrust regulators.
The companies said they expect to begin combining operations later this year.
Savvis' chairman and CEO, James Ousley, will head the St. Louis-based integrated hosting business, which the companies said would operate under the Savvis brand "for the foreseeable future."
CenturyLink Inc., led by President and CEO Glen Post III, is the third-largest telecom company in the U.S.
(St. Louis Business Journal) |
