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Pastimes : Home on the range where the buffalo roam
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To: T L Comiskey who wrote (5388)9/27/2000 6:08:49 PM
From: T L Comiskey  Read Replies (1) of 13572
 
Gone but not forgotten

Exodus to Buy Global Crossing Unit?

NEW YORK (Reuters) - Exodus Communications Inc. (EXDS.O) is
close to a deal to buy Global Crossing Ltd.'s (GBLX.O)
GlobalCenter Web hosting unit, which manages companies' Web
sites, for about $6.5 billion in stock, sources familiar with
the negotiations said on Wednesday.

The deal, which could be announced as early as Thursday,
comes just two months after the companies abandoned their
initial negotiations. Santa Clara, Calif.-based Exodus and
Bermuda-based Global Crossing could not be immediately reached
for comment.

The Global Center Web-hosting business offers storage and
maintenance facilities for Web sites and other Internet
services such as applications management.

The expected deal also includes a 10-year network services
agreement that could generate about $4 billion in revenues for
Global Crossing, sources said. Exodus will commit to using
Global Crossing's network for at least two-thirds of its
network purchases in Asia, and at least 50 percent of its
purchases in the rest of the world, sources said.

The companies also will form a joint venture in Asia that
will provide Web hosting services, sources said. The venture
will be two-thirds owned by Exodus and one-third owned by Asia
Global Crossing Ltd., an entity owned by Global Crossing,
Microsoft Corp. (MSFT.O) and Softbank Corp. (9984.T)
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