Time Warner Cable Acquires NaviSite for $230 Million

Time Warner Cable Inc. announced today it had reached a deal to acquire NaviSite, a cloud services and Web-hosting company, for $230 million in cash. Time-Warner, which is the second largest cable-TV provider in the U.S. as well as a significant player in residential broadband, said the transaction would expand its commercial broadband business by providing an entry into the business of selling managed services for small- and medium-size companies. The transaction is expected to close in the second quarter of 2011.