LocalBusiness.com reported that regional telecommunications service provider CT Communications plans to acquire Charlotte-based WebServe for $5.7 million in cash. In addition to the initial valued purchase price, there is the potential for another $5 million cash payment in about a year if WebServe meets certain revenue targets. WebServe, which was ranked fourth in this year's Deloitte & Touche N.C. Fast 50 list, provides web development and hosting services for businesses in the Carolinas. CTC company officials said the acquisition, which is still subject to WebServe shareholder approval, is expected to close by the end of the year.
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