Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Good-The Bad and The Ugly -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (2621)	9/27/2000 5:19:26 PM
From: bob	Respond to of 8686

Wednesday September 27, 5:10 pm Eastern Time Exodus to Buy Global Crossing Unit? NEW YORK (Reuters) - Exodus Communications Inc. (NasdaqNM:EXDS - news) is close to a deal to buy Global Crossing Ltd.'s (NasdaqNM:GBLX - news) 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. (NasdaqNM:MSFT - news) and Softbank Corp.