U.S. Court Approves Exodus Sale To Cable and Wireless

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Cable and Wireless Thursday said it gained court approval to purchase the bulk of Exodus Communications' business.

The U. S. Bankruptcy Court for the District of Delaware authorized the deal, under which Cable and Wireless, London, would acquire substantially all of the hosting provider's U.S. customer contracts as well as about 30 Exodus data centers, its intellectual property and its employee base.

Cable and Wireless is still in discussions with Santa Clara, Calif.-based Exodus to purchase data centers in London, Frankfurt and Tokyo, according to a company statement.

The deal, valued at about $850 million when it was unveiled in November, should close later this month or in early February, Cable and Wireless said.

Exodus voluntarily filed for Chapter 11 bankruptcy protection on Sept. 26.

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