Verizon Terremark has announced it will fund both Xen and CloudStack, making its first foray into the open-standard cloud market. Terremark will also contribute to the Linux Foundation and join as an advisory board member. "Our support and investment reflects our desire to see the cloud market mature quickly and provide businesses with cloud-based offerings that address specific needs like performance, cost and flexibility," Terremark Senior Vice President Chris Drumgoole said.

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