Time Warner Cable and NaviSite have entered into an agreement under which Time Warner Cable will acquire NaviSite, a provider of enterprise-class hosting, managed application, messaging and cloud services, for $5.50 per share in cash, or a total equity value of approximately $230 million.The acquisition provides Time Warner Cable Business Class, Time Warner Cable's commercial services business, an immediate presence in the managed services market with NaviSite's more than 1,200 customers. Following the completion of the acquisition, Time Warner Cable plans to continue the service of NaviSite's Enterprise customers and to use NaviSite's operational expertise and enterprise-class infrastructure to meet the demand for managed services offerings from Time Warner Cable's existing and future small and medium-sized business customers.