Cable & Wireless to Acquire PSINet Japan

 
 
By Matt Carolan  |  Posted 2001-12-10 Email Print this article Print
 
 
 
 
 
 
 

Saying that it wants to reinforce its position in Japan's growing Internet market and accelerate its strategy for reaching Japanese businesses seeking IP and data services, Cable & Wireless on Monday announced that it will acquire PSINet Japan.

Saying that it wants to reinforce its position in Japans growing Internet market and accelerate its strategy for reaching Japanese businesses seeking IP and data services, Cable & Wireless on Monday announced that it will acquire PSINet Japan. PSINet Japan has several thousand business customers, with points of presence in several key Japanese cities, and a data center in Tokyo.
The total value of the transaction is 7.2 million British pounds. It must be approved by the bankruptcy court overseeing the Chapter-11 proceedings of PSINet Japans parent company, PSINet, which filed for bankruptcy in the spring of this year.
Cable & Wireless said it expects with the deal to more than double its IP-derived revenue in Japan. In late November, Cable & Wireless announced that it would acquire most of the assets of troubled Exodus Communications, also in bankruptcy proceedings.
 
 
 
 
 
 
 
 
 
 
 

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