NZ's Telecom to acquire Revera Ltd
WELLINGTON (Reuters) - New Zealand's Telecom Ltd (TEL.NZ) said on Monday it would acquire privately-owned local IT infrastructure and data center company Revera Limited for NZ$96.5 million ($81.8 million).
Telecom said the acquisition would strengthen its ability to provide IT services to businesses, particularly cloud and data centre services.
It said the deal would be funded from current cash and borrowing facilities. Revera had revenues of around NZ$50 million and earnings before interest, tax, depreciation and amortisation of NZ$13 million, which was expected to grow by about 15 percent in the next 12 months.
Shares in Telecom closed at NZ$2.565 on Friday.
WASHINGTON - U.S. job growth accelerated sharply in February despite the icy weather that gripped much of the nation, easing fears of an abrupt economic slowdown and keeping the Federal Reserve on track to continue reducing its monetary stimulus.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.