Level 3 Communications, Inc. (Nasdaq: LVLT) today announced that it has signed a definitive agreement to acquire the Content Delivery Network (CDN) services business of SAVVIS, Inc. (Nasdaq: SVVS). Under the terms of the agreement, Level 3 will pay $135 million in cash consideration to acquire certain assets, including network elements, customer contracts, and intellectual property used in SAVVIS's CDN business. The purchase price is subject to certain customary post closing working capital adjustments.
SAVVIS's CDN services business, based in Thousand Oaks, Calif., with approximately 50 employees and over 100 customers, provides solutions that improve performance, reliability, scalability and reach of customers' online content. Initially developed in 1996 as Sandpiper Networks, the division developed, deployed and operated the world's first content delivery network. It has a globally distributed infrastructure in more than 20 countries.
"The acquisition of SAVVIS's CDN services business will enable Level 3 to better address the increasing opportunity presented by rich media applications such as video, Web 2.0 applications, multiplayer online gaming and software as a service over the Internet," said Kevin O'Hara, president and chief operating officer of Level 3. "We are looking forward to welcoming the pioneers of CDN to our team.
"The largest customers of CDN services rely on a combination of capabilities to support their businesses. These include services like CDN, IP transit, wavelengths, metro transport, and colocation. Upon completion of this transaction, Level 3 believes that it will be the only CDN services provider with a single source, full portfolio of end-to-end content distribution solutions, and will be in a unique position to offer a range of building blocks to meet these customers' needs.
"Level 3 already has a strong brand and capabilities in video distribution through its Vyvx business. With native CDN capabilities and with Level 3's highly scalable, industry-leading IP backbone, we believe that Level 3 will be able to bring additional value to all video-centric companies by delivering video in a more intelligent and comprehensive way to a broader range of destinations.
"This acquisition does not require the type of physical integration associated with the metro and backbone transactions we announced earlier this year. We are confident in our ability to incorporate this key capability into our portfolio."
SAVVIS's content delivery customers include some of the largest enterprises in the world, including Microsoft.
"As we grow our online services business, stability and control over our network infrastructure becomes increasingly important to deliver great experiences for our customers, partners and advertisers," said Arne Josefsberg, general manager of Global Foundation Services at Microsoft. "We look forward to a continued relationship with Level 3 as they embark upon this next phase of their network evolution."
SAVVIS's CDN business had approximately $15 million in revenue for the nine months ending September 30, 2006.
Closing is subject to customary conditions, including receipt of Hart- Scott-Rodino approval. Closing is expected to occur in the first quarter of 2007.
About Level 3 Communications
Level 3 Communications, Inc. (Nasdaq: LVLT), an international communications company, operates one of the largest Internet backbones in the world. Through its customers, Level 3 is the primary provider of Internet connectivity for millions of broadband subscribers. The company provides a comprehensive suite of services over its broadband fiber optic network including Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice services and voice over IP services. These services provide building blocks that enable Level 3's customers to meet their growing demands for advanced communications solutions. The company's Web address is http://www.Level3.com.
"Level 3 Communications," "Level 3" and the Level 3 Communications logo are registered service marks of Level 3 Communications, Inc. in the United States and/or other countries. Any other product and company names herein may be trademarks of their respective owners. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc.
Forward-Looking Statement
Some of the statements made by Level 3 in this press release are forward- looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: increasing the volume of traffic on Level 3's network; developing new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technology and information systems to support new products and services, including voice transmission services; stabilizing or reducing the rate of price compression on certain of our communications services; integrating strategic acquisitions; attracting and retaining qualified management and other personnel; and the ability to meet all of the terms and conditions of our debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors.
In addition to online casino news hot off the presses, OCN shows you the best first deposit bonuses at the best online casinos on the web. We've spared you the search by putting together a list of the latest and greatest first deposit bonuses around. So, all you have to do is click and enjoy!
| Name | First Deposit |
|---|
| 150% up to $150 |
| up to 350$ |
| 100% up to $500 |
| 1000% |
| $777 Welcome Bonus |
| 500$ |
| 100% match upto $200 |
Most Recommended Casino Books
The release of a new game is always a special event in the gambling industry, but when Microgaming, ...
The sixth annual European i-Gaming Congress and Expo got underway at the spacious Barcelona Diagonal...
The United States government released proposed guidelines for the Unlawful Internet Gambling Enforce...
On October 1, 2007 the Federal Reserve and the Department of the Treasury released their joint repor...
Although the passage of the UIGEA last year made it difficult for American players to gamble online,...
Are the new lax gambling laws causing more and more Britons to be under the sway of compulsive gambl...
You may have a surprise in your Full Tilt Poker Account today! After recent allegations that bots we...
Coming off a 26th-place finish at the World Series of Poker, Rancho Mirage's Roy Winston won the Bor...
But the Gloucester Township homemaker never expected another fight -- this time with bureaucrats -- ...
It should come as a surprise to no one that charity-poker games have emerged in recent years as an i...
Spurred by the three-month success of high stakes poker, the Naples-Fort Myers Greyhound Track’s pok...
Online Casino Group Betfair has announced that it has boosted its IT energy efficiency to support it...
Rumors have been circulating for a while now about the future of 32Red.com and its Gibraltar-based B...
CryptoLogic has announced that they have received exclusive rights to make slots and other casino ga...
Since the beginning of the U.S. Presidents first term, the Bush administration has been trying to ke...
The coastal casino in the State of Mississippi have had a diffilcutl few years, yet it seems that th...
Her Majesty Queen Elizabeth II recently found that not only was she one of the most richest women in...
It seems that there is no limit to how low some online casinos can go in order to secure a profit. V...
After a 10-month investigation into the slimy world of Internet "casinos or sports books", Americas ...
It looks like the team behind Online-Casinos.com want to make their online casino portal a fun place...
Positive Experience Begins Even Before Guests Step Out of Their Cars at Harrah's, St. Louis Casino &...
Penghu, a set of islets off Taiwan, is trying to be the next Macao by building a casino town to lure...
The battles against the draconian UIGEA seems to be gaining momentum in the world courts. Here are t...
The Online Casino industry has experienced the worst setback that it ever has since UIGEA. However, ...
The recent British Online Gambling Act has sent the online casino industry into a flurry of exciteme...
As agreed by all interested parties, the hearing that was to take place on the issue of repealing th...
eCOGRA, the world's Internet Pilce Officer, has announced that it approves of the measures taken in ...
Playtech has announced that its Cheif Financial Officer, Shuki Barak, is leaving the group. ...
The Gambling Act is the first peice of legislation that has been passed in the UK about gambling. Wh...
Have you committed a crime in order to pay gambling debts? When you gamble, do you go back another d...
America’s Attorney General Alberto Gonzales has at long last bowed to pressure and has resigned from...
As of today, online gambling in the United Kingdom, as well as advertising from online casino operat...
PartyGaming PartyGaming published their first-half interim results this week, reporting an expected ...
In papers filed today, the US District Court of New Jersey, Trenton Division, has granted a motion o...
Malta is the next online casino superpower, it seems. Here is the storty how a little country draws ...
For some addicts, a casino can be the root of all evils. For others, a fix can come from visiting th...
The new piece of legislation banning advertisements in the UK has caused some stir in the online gam...
Pachinko has become one of the most popular games in the world. Here are a few tips that will help y...
Dynasty Gaming Inc has announced another resignation from the company, this time in the form of Boar...
| Name | Payout | |
|---|---|---|
 |
Rushmore Casino | 97.2%
|
 |
||
 |
Super Slots | 98.9%
|
|
||
 |
Sun Palace Casino | 98.2%
|
|
||
 |
Cool Cat Casino | 98%
|
|
||
 |
Club USA Casino | 97.5%
|
|
||
 |
BetUS | 99%
|
|
||
 |
Crystal Palace Casino | 97.5%
|
|
||
Online Casino News - news
from the world of
online casinos RSS Feed.
The OCN directory is currently in development and will be available soon. If you are interested in adding a link, just click on the “Add Link” button. Thanks for your patience.
You do not need prior permission to link to any of the pages on this site. Limited copyright is granted for you to use and/or republish any of the articles on this site for any legitimate media purpose as long as you reference OCN as the source, and include a link referring the reader to the OCN site.