Jan, 2002 : Court Approves Sale of Exodus to Cable & Wireless

📅 January 18, 2002 - Cable and Wireless plc (cw.com) announced yesterday that theUnited States Bankruptcy Court for the District of Delaware has approved theagreement under which Cable and Wireless plc's wholly-owned subsidiaryDigital Island Inc (digitalisland.com), will purchase selected assets and a majority of the business activities of Exodus Communications, Inc. (exodus.net) in the United States.

The Exodus business comprises substantially all of Exodus's United Statescustomer contracts, together with selected corporate and data centre assets,know-how, intellectual property (including the Exodus brand), employee baseand other resources required to support customers.
The Bankruptcy Court's approval does not cover Cable & Wireless' proposedacquisition of Exodus's operations and data centers in London, Frankfurt andTokyo which are the subject of separate agreements which are still beingdiscussed with Exodus. The transaction is expected to close during late Jan.or early Feb. 2002. The agreement remains subject to customary closingconditions.

Reads: 1527 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/cw011802.cfm

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