- Associated Press - Monday, August 16, 2010

ANDOVER, MASS. (AP) - NaviSite Inc. said Monday that CEO Arthur P. Becker has left the position but remains on the board.

President R. Brooks Borcherding will add the CEO title.

The company, which provides outsourced Web and e-commerce services, rejected a bid by Atlantic Investors LLC to buy the company for $3.05 per share on Aug. 6.

The company gave no reason for the rejection but said a special board committee would continue to consider strategic options including a potential sale.

Atlantic Investors owns 36.6 percent of NaviSite, and made an unsolicited offer for the rest of the company on July 12. Its offer was a 9.3 percent premium to NaviSite’s previous closing price, and it valued the company at about $114.9 million.

Becker and NaviSite’s Chairman Andrew Ruhan have business interest in Atlantic Investors.

Borcherding was named president on March 1. He had been senior vice president of sales, and chief revenue officer since April 2009.

From 2005 until April 2009, he was the strategy, planning and operations director of Cisco Systems Inc.

NaviSite’s shares ended Monday up 13 cents, or almost 5 percent, to $2.77.

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