Verizon says it agreed to buy Terremark Worldwide, a provider of information technology services, for $1.4 billion.
Verizon Communications Inc. said Thursday it will pay $19 per share for Terremark Worldwide Inc.
Terremark provides "cloud" computing services, which lets companies store data and software on remote servers instead of their own computers.
Verizon says the deal helps speed up its strategy to offer "everything-as-a-service" to businesses and government clients.
Terremark, based in Miami, operates 13 data centers in the U.S., Europe and Latin America.