Cable & Wireless to Acquire PSINet Japan

Cable & Wireless to Acquire PSINet Japan

Written By
Matt Carolan
Matt Carolan
Dec 10, 2001
1 minute read
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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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