Cloud computing is all the rage these days, and CenturyLink, the nation’s third largest telecommunications company, has decided to get in on the action. On Wednesday, the company announced that it would purchase information technology firm Savvis, in a $2.5 billion cash and stock deal. The deal also calls for the assumption of $700 million in Savvis debt.
Wachtell, Lipton, Rosen & Katz represented CenturyLink, with corporate counsel Eric Robinson leading a team consisting of antitrust partner Ilene Gotts, employee benefits partner Michael Segal, tax partner Jodi Schwartz, and finance partner Eric Rosof. The team previously represented CenturyLink (then known as CenturyTel) in its $10.6 billion purchase of Qwest Communications in April 2010. Working alongside Wachtell was a team from Jones Walker, which has represented CenturyLink as corporate and securities counsel since 1985, led by corporate partner Ken Najder, finance partner Marshall Page III and benefits partner Timothy Brechtel. Wilson Sonsini Goodrich & Rosati chairman Larry Sonsini represented Savvis, alongside corporate partners Robert Sanchez, Warren de Wied, and Daniel Peale, IP partner James Clessuras, employee benefits partner Ralph Barry, and tax partner Eileen Marshall.
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