Nov 19 (Reuters) - Telecommunications company CenturyLinkInc said on Tuesday it has bought cloud computingstartup Tier 3 Inc as part of its acquisition strategy thatallows it to compete with the likes of Amazon Inc, IBMCorp and Verizon Communications Inc's Terremark.
The company did not disclose financial details, but a sourceclose to the matter said the price was around $200 million.
Monroe, Louisiana-based CenturyLink, which acquired telecomcompany Qwest Communications in 2011, has been building itscloud services. It bought data center provider Savvis in July2011 for $2.5 billion and in June of this year it purchasedAppFog, a platform as a service company.
Cloud computing, which includes on-demand software, platformand infrastructure services, is cheaper and faster to deploythan traditional offerings which usually include more hardware.
According to research firm Gartner, Seattle-based Tier 3 isthe No. 3 cloud provider after Amazon Web Services and CSCBizCloud.
Evercore Partners advised Tier 3 on the deal.
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