Verizon Communications (VZ.N) said on Thursday that it had bought privately held software developer CloudSwitch to boost its business services division. The deal is part of a continued push by Verizon in to enterprise services. It plans to merge Burlington, Massachusetts-based CloudSwitch with Terremark, an information technology services provider it bought in April for $1.4 billion. CloudSwitch brings Verizon software that helps enterprises to securely move applications between data centers. The companies did not disclose the terms of the deal. Verizon shares were down 2 percent at $35.71 in late trading on New York Stock Exchange.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 1.95% or $-0.71/share to $35.76. In the past year, the shares have traded as low as $29.19 and as high as $38.95. On average, 17547800 shares of VZ exchange hands on a given day and today's volume is recorded at 11819887.
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