NaviSite Gets Buyout Offer

7/19/10

NaviSite (NASDAQ:NAVI), an Andover, MA-based provider of IT services such as data hosting for large organizations, reported this morning that it has received a buyout offer from one of its major shareholders, Atlantic Investors, which controls 36.6 percent of the company’s stock. Atlantic wants to buy the rest of NaviSite’s common stock for $3.05 per share or $72.9 million. NaviSite’s board of directors has formed a special committee to consider Atlantic’s offer.

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