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Technology Stocks : Exodus Communications, Inc. (EXDS) -- Ignore unavailable to you. Want to Upgrade?

To: sam who wrote (1501)	10/27/1999 9:02:00 PM
From: William F. Wager, Jr.	Read Replies (1) \| Respond to of 3664

Exodus to Buy Service Metrics For About $280 Million in Stock An INTERACTIVE JOURNAL News Roundup SANTA CLARA, Calif. -- Web-site hosting company Exodus Communications Inc. agreed to acquire closely held Service Metrics Inc. for about $280 million in stock. Service Metrics (www.servicemetrics.com) provides Internet-monitoring applications and services that measure the performance of Web sites. By buying the Boulder, Colo., company, Exodus hopes to improve its ability to monitor the sites that it hosts on its computer servers. The companies said the terms of the agreement were subject to revision based on the Exodus's stock price. Wednesday on the Nasdaq Stock Market, shares of Exodus gained 12.5 cents to $77.25. Ellen M. Hancock, president and chief executive of Exodus, said in a statement: "The addition of Service Metrics significantly enhances our leadership position in the complex Web-hosting market." Service Metrics, founded in June 1998, will become a wholly owned unit of Exodus. The transaction is expected to close in December, and is subject to regulatory review and approval. The companies said they expect the acquisition will be accounted for as a pooling of interests.