21Vianet Acquires Fastweb

21Vianet, 9/20/12

Chinese Internet data center service provider 21Vianet (Nasdaq: VNET) today announced that the company has acquired cloud computing-based content delivery network (CDN) provider Beijing Fastweb. The total consideration for the acquisition was based upon 5 to 7.35 times the average of Fastweb's 2012 and 2013 EBITDA to be paid in a combination of equity and cash, in the aggregate amount not to exceed USD 20 mln.

In connection with the acquisition, Edward Liu, the Chief Executive Officer of Fastweb, will join 21Vianet as the Chief Software Officer. Prior to Fastweb, Liu was the director of business development at U.S. technology company Akamai Technologies.

Keywords: Edward Liu 21Vianet telecom VNET CDN cloud computing Internet data center Fastweb M&A

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