Telecom buys local data centre firm Revera for $96.5 mln

Sun, 28 Apr 2013

By Paul McBeth April 29 (BusinessDesk) - Telecom Corp, the country's biggest telecommunications company, has bought local data centre firm Revera for $96.5 million as it looks to get greater coverage in the cloud and build IT services. The Auckland-based company will pay for Revera through its existing cash and borrowing lines, with the transaction expected to settle in May, it said in a statement. Revera reported sales of $50 million in the year ended March 31, with earnings before interest, tax, depreciation and amortisation of $13 million...

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