TW Cable Closes NaviSite Buy

NEW YORK -- Time Warner Cable Inc. (NYSE: TWC) today announced that it has completed its acquisition of NaviSite, Inc., a premier provider of enterprise-class hosting, managed application, messaging and cloud services. NaviSite will now operate as a wholly owned subsidiary of Time Warner Cable.

"Today Time Warner Cable adds a successful managed services business, with an innovative managed cloud platform, to our already extensive business to business offerings," said Glenn Britt, Time Warner Cable Chairman and CEO. "Business services continue to present significant growth opportunities for the company and the addition of NaviSite strengthens our position in this area."

NaviSite employs approximately 570 people worldwide. It operates nine data centers in the United States and the United Kingdom, two of which are SAS 70 Type II certified data centers, and has network operations centers in Gurgaon, India and Andover, Massachusetts.

NaviSite's President R. Brooks Borcherding will continue to serve as NaviSite's President and will oversee NaviSite's day-to-day operations. He will report to Gerry Campbell, Executive Vice President of Business Services at Time Warner Cable and Carl Rossetti, Executive Vice President of Time Warner Cable and President of Time Warner Cable Ventures.

Time Warner Cable Inc. (NYSE: TWC)

NaviSite (Nasdaq: NAVI)