MONROE, La. and ST. LOUIS, July 12,
2011 /PRNewswire/ -- The Federal Communications Commission
(FCC) today approved the pending merger between CenturyLink, Inc.
(NYSE: CTL) and Savvis, Inc. (NASDAQ: SVVS). The merger previously
received an early termination notice under the Hart-Scott-Rodino
Act from the Department of Justice and the Federal Trade
Commission.
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"We are pleased to receive the FCC's approval and appreciate the
Commission's prompt review of our request," said Glen F. Post, III, chief executive officer and
president of CenturyLink. "The combination of CenturyLink's hosting
and network assets with Savvis' proven solutions in colocation,
managed hosting and cloud services substantially enhances
CenturyLink's data services capabilities and provides the company
with a solid platform for future growth."
"By leveraging CenturyLink's leading network capabilities and
relationships with businesses across the
United States, Savvis is positioned for leadership in
meeting the growing customer demand for outsourced IT and cloud
services, and can deliver these services to a broader base of
customers at an accelerated pace," said James E. Ousley, chairman and chief executive
officer of Savvis. "We look forward to using our world-class
platform to provide customers with innovative solutions to meet the
challenges of today, tomorrow and many years to come."
The companies expect to begin combining operations later this
year. This integrated hosting business, which will operate under
the Savvis brand for the foreseeable future, will be based in
St. Louis and led primarily by key
members of the Savvis leadership team, including Ousley, who will
head the unit.
About CenturyLink
CenturyLink is the third largest telecommunications company in
the United States. The company
provides broadband, voice and wireless services to consumers and
businesses across the country. It also offers advanced
entertainment services under the CenturyLink™ Prism™ TV and DIRECTV
brands. In addition, the company provides data, voice and managed
services to business, government and wholesale customers in local,
national and select international markets through its high-quality
advanced fiber optic network and multiple data centers. CenturyLink
is recognized as a leader in the network services market by key
technology industry analyst firms. CenturyLink's customers range
from Fortune 500 companies in some of the country's largest cities
to families living in rural America. Headquartered in Monroe, La., CenturyLink is an S&P 500
company and is included among the Fortune 500 list of America's
largest corporations. For more information, visit
www.centurylink.com.
About Savvis
Savvis (NASDAQ:SVVS) is a global leader in cloud infrastructure
and hosted IT solutions for enterprises. Nearly 2,500 unique
clients, including more than 30 of the top 100 companies in the
Fortune 500, use Savvis to reduce capital expense, improve service
levels and harness the latest advances in cloud computing. For more
information, please visit www.Savvis.com.
Cautionary Statements Regarding Forward Looking
Information
Except for the historical and factual information contained
herein, the matters set forth in this press release, including
statements regarding the expected timing and benefits of the
acquisition, and other statements identified by words such as
"estimates," "expects," "projects," "plans," and similar
expressions are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
a number of risks, uncertainties and assumptions, many of which are
beyond our control. Actual events and results may differ materially
from those anticipated, estimated or projected if one or more of
these risks or uncertainties materialize, or if underlying
assumptions prove incorrect. Factors that could affect actual
results include but are not limited to: the possibility that the
anticipated benefits from the acquisition cannot be fully realized
or may take longer to realize than expected; the possibility that
costs or difficulties related to the integration of Savvis'
operations into CenturyLink will be greater than expected; the
ability of the combined company to retain and hire key personnel;
the timing, success and overall effects of competition from a wide
variety of competitive enterprises; the risks inherent in rapid
technological change; the ability of the combined company to
successfully introduce new product or service offerings on a timely
and cost-effective basis; the effects on ongoing changes in the
regulation of the communications industry; any adverse developments
in customer relationships, commercial disputes or legal
proceedings; and other risk factors and cautionary statements as
detailed from time to time in each of CenturyLink's and Savvis'
reports filed with the Securities and Exchange Commission (SEC).
You should be aware that new factors may emerge from time to time
and it is not possible for us to identify all such factors nor can
we predict the impact of each such factor on the acquisition or the
combined company. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Unless legally required, CenturyLink and Savvis
undertake no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Additional Information and Where to Find It
In connection with the proposed transaction between CenturyLink
and Savvis, CenturyLink has filed, and the SEC has declared
effective, a registration statement on Form S-4. The registration
statement includes a prospectus of CenturyLink that also
constitutes a proxy statement of Savvis. The definitive Proxy
Statement/Prospectus, dated as of June 10,
2011, contains important information about CenturyLink,
Savvis, the proposed merger and related matters. Investors and
security holders are urged to read carefully the definitive Proxy
Statement/Prospectus because it contains important information.
Investors and security holders may obtain free copies of the
definitive Proxy Statement/Prospectus and all other documents filed
with the SEC by CenturyLink and Savvis through the website
maintained by the SEC at www.sec.gov. Investors and security
holders will be able to obtain free copies of the documents filed
with the SEC by CenturyLink on CenturyLink's website at
www.CenturyLink.com or by contacting CenturyLink Investor Relations
at (318) 340-5627. Investors and security holders will be able to
obtain free copies of the documents filed with the SEC by Savvis on
Savvis' website at www.savvis.com or by contacting Savvis Investor
Relations at (314) 628-7433.
Participants in the Acquisition of Savvis
CenturyLink and Savvis and their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Savvis in respect
of the proposed merger. Information regarding CenturyLink's
directors and executive officers is available in its proxy
statement filed with the SEC by CenturyLink on April 6, 2011, and information regarding Savvis'
directors and executive officers is available in its proxy
statement filed with the SEC by Savvis on April 1, 2011. Other information regarding the
persons who may, under the rules of the SEC, be considered
participants in the solicitation of Savvis stockholders in
connection with the proposed merger is set forth in the proxy
statement/prospectus described above. You can obtain free copies of
these documents free of charge using the contact information above.
This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
SOURCE CenturyLink, Inc.