NaviSite (NASDAQ:[[ticker: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.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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