May 31, 2001 : Cable & Wireless Advances Full Steam

📅 May 31, 2001 - Telecommunications giant Cable & Wireless (cw.com) and Web hosting company Digital Island Inc. (digitalisland.com) announced on Thursday that the waiting period imposed on the proposed acquisition of Digtal Island by Cable & Wireless, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, was approved for early termination by the Federal Trade Commission on May 30, 2001.
The companies also announced that it has been determined that a pre-merger notification filing will not be required in accordance with either the UK Fair Trading Act or the applicable EC Merger Regulation, and that as a result, the acquisition will not be subject to a review period by the UK office of Fair Trading or the European Commission.
The completion of the waiting period, or its early termination, was one of the conditions for the finalizing of the acquisition. And the deal remains subject to certain other customary conditions
Cable & Wireless and Digital Island announced the execution of their merger agreement on May 14. The deal provided for the acquisition of Digital Island at a price of $3.40 per share in cash, through a tender offer for all outstanding shares of Digital Island's common stock.
Along with the announcement regarding the acquisition of Digital Island, Cable & Wireless IDC, the Japanese business of the telecommunications group, announced the opening of its new Internet Solutions Center in Tokyo.
The facility is Cable & Wireless IDC's fifth data center in Japan, and comes shortly after the opening of the company's second Osaka data center on April 9, 2001.
The new Tokyo center has a capacity of approximately 13,000 square meters, or 139,000 square feet, of hosting space, and is connected directly to the 1.2 Gbps Internet backbone operating between Japan and the US. The completion of the center brings the total of Cable & Wireless IDC's hosting space in Japan to about 20,000 square meters, or 215,000 square feet. The existing data centers have more than 4,000 servers installed, and about 4 terabytes of traffic passes through them daily.
The Tokyo data center is bring Cable & Wireless's total number of data centers to 23 worldwide. And is expected to perform as a hub for providing hosting services in the Asia Pacific region.

Reads: 1956 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/cw531.cfm
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