Stock Watch: NTT Deal Powers Verio

Verio, Inc. (Nasdaq: VRIO) was up 22 5/16 at 58 1/4 in Monday morning trading after Japan’s NTT Communications Corp. said it will acquire the company for $60 a share, or a total of about $5.5 billion.

NTT said the acquisition of Verio, which provides Web-hosting and Internet services, will help it expand in the U.S. and around the world.

“The combination of our two companies will facilitate competition in the Internet sector in the U.S., by delivering resources, capabilities and experience to meet the large, diverse and growing telecommunications needs of all businesses, including large global enterprises, multinational corporations, and Web-centric firms,” said NTT President and Chief Executive Officer Masanobu Suzuki.

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