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Savvis said the consolidation of the acquired assets along with anticipated work force reductions will help generate significant infrastructure and operational synergies.
"We are moving swiftly to integrate the highly complementary Savvis and CWA assets, and apply our business model to the combined enterprise," says Rob McCormick, chairman and chief executive officer of Savvis. "We have added thousands of enterprise customers, high performance infrastructure, and outstanding consulting expertise. We are focused on continuing to provide the highest levels of service and a seamless transition for the CWA customer base. Going forward, we are excited to introduce this large base of enterprise customers to the benefits of virtualization as an option for high performance services and the potential for additional cost savings for their hosting, network and application services."
As announced in February, Savvis has raised $200 million in debt financing and an additional $52 million from a sale lease-back of properties to finance the transaction. Savvis said the newly combined entity is projected to have annual revenues of approximately $700 million by the end of 2004.
Monday's news effectively closes the C&W saga, nearly nine months after the UK-based carrier first put its loss-making US division up for sale. The final bid, made in February for $155 million, trumped a $125 million bid made by Gores Technology Group in early December.
Read Back Issues of WHIR Magazine
October 2009 - Web Hosting's All Star Team
This has been, for us, one of the most interesting, exciting and challenging build-ups to an issue of the magazine yet, Web Hosting's All Star Team. The balloting process was our first experiment with a kind of user participation we're planning to do a lot more with in the months to come. We had thousands of ballots submitted, with hundreds of write-in suggestions and a demonstration of user engagement that has us feeling super positive about the project.
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July 2009 - What am I Worth?
One of the interesting luxuries of working on a project like the printed WHIR magazine is that it allows us to play with things like our point of view from one issue to the next. In recent months we've been giving added attention to the kind of practical and applicable advice aimed at smaller hosts and resellers. This issue carries on with that point of view, asking, in our cover story, "what am I worth?" It's a complicated question without a clear-cut answer.
About This Issue | Read Digital Edition
May 2009 - The Blueprint for a Small Web Host
I was a little surprised by how difficult it became to see this idea through. We set out to assemble a blueprint for a small hosting business, but butted up pretty quickly against the general impossibility of covering all the territory that was out there to be covered. The basic constraints of a printed magazine, and the less-than-infinite amount of time we had available forced us to face the fact that we could never produce an exhaustive guide to starting a hosting company.
About This Issue | Read Digital Edition
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