Verizon To Buy Terremark For $1.4 Billion

NEW YORK — Verizon Communications Inc. said Thursday it is buying Terremark Worldwide Inc., a provider of information technology services, for $1.4 billion in cash.Verizon plans to pay $19 per share for Terremark Worldwide Inc. That re…

NEW YORK — Verizon Communications Inc. said Thursday it is buying Terremark Worldwide Inc., a provider of information technology services, for $1.4 billion in cash.

Verizon plans to pay $19 per share for Terremark Worldwide Inc. That represents a 35 percent premium to Terremark’s closing stock price on Thursday before the deal was announced. Terremark’s shares jumped $5.06, or 36 percent, to $19.11 in after-hours trading as a result.

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