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Century Link to aquire Savvis

It’s 1999 all over again. Data center and fiber-optic companies are hot, just as they were before the tech bubble went pop. Even some familiar names from the tech bubble days –Global Crossing, JDS Uniphase – are back in the pink and doing deals.

IT infrastructure company Savvis, itself the result of a dotcom era takeover and IPO, today announced plans to sell itself to telecom provider CenturyLink for $30 a share in cash and for CenturyLink stock worth $10 a share.

The deal pricetag, about $2.5 billion, is about 10 or 11 times Savvis’s expected Ebitda for 2011. That’s a bit cheaper than the multiple in Verizon’s deal to buy another IT-services company, Terremark, earlier this year.