Time Warner Cable (TWC) will purchase NaviSite (NAVI), a provider of website hosting, messaging...

|By:, SA News Editor

Time Warner Cable (TWC) will purchase NaviSite (NAVI), a provider of website hosting, messaging and cloud services, for $230M in cash, or $5.50/share. TWC says the acquisition will expand its commercial broadband business by giving it an "immediate presence" in the managed services market for small- and medium-sized firms. (PR)