Log in | Register

bankruptcy

Verizon Communications Acquires MCI

February 14, 2005 — (WEB HOST INDUSTRY REVIEW) — Verizon Communications (verizon.com) announced on Monday that it has acquired MCI (mci.com) for $4.8 billion in equity and $488 million in cash, confirming reports that emerged late last Friday.

Verizon Makes Offer for MCI

February 11, 2005 — (WEB HOST INDUSTRY REVIEW) — According to reports, telecommunications carrier Verizon (verizon.com) is in serious merger talks with MCI (mci.com) and could announce a deal in the next few days.

XO Completes Allegiance Acquisition

June 24, 2004 — (WEB HOST INDUSTRY REVIEW) — Web hosting and Internet service carrier XO Communications (xo.com) announced on Wednesday that it has completed its acquisition of the assets belonging to Allegiance Telecom (algx.com) for $322 million in cash, including $11 million of adjustments for working capital and approximately 45.4 million shares of XO common stock.

Speedera Expands Presence at AboveNet

June 10, 2004 — (WEB HOST INDUSTRY REVIEW) — AboveNet (abovenet.com) announced on Wednesday that content delivery service provider Speedera Networks (speedera.com) plans to expand its presence in several AboveNet data center facilities in the US.

XO to Acquire Allegiance for $311 Million

Under the terms of the transaction, XO will acquire all the Allegiance assets covered by the agreement for $311 million in cash and 45.38 million shares in XO common stock.

XO Applying for Return to Nasdaq

The company’s stock has been trading in the over-the-counter market under the symbol XOCM.OB since it emerged from chapter 11 bankruptcy in January of 2003.

XO Sells Stock, Raises $197M to Reduce Debt

XO said the offering yielded approximately $197.6 million. The funds were used to reduce the company’s debt from $536.5 million to $338.9 million.

XO Concludes $200 Million Offering, Cuts Debt

According to XO, preliminary figures show that approximately 39.7 million shares were purchased in the offering, resulting in the total yield of $198.6 million. The company said the proceeds will be used to reduce its outstanding debt.

Qwest Acquires Allegiance Telecom for $300M

December 22, 2003 — (WEB HOST INDUSTRY REVIEW) — Qwest Communications (qwest.com) announced last week that it has signed an agreement to purchase certain assets from Allegiance Telecom (algx.com), a provider of facilities?based telecommunications based in Dallas, Texas.

ProServe Chooses Redbus Interhouse for Colo

December 16, 2003 — (WEB HOST INDUSTRY REVIEW) — The Netherlands subsidiary of Redbus Interhouse (interhouse.net), a colocation and managed services provider based in England, said on Monday that Netherlands-based Web hosting company ProServe (proserve.nl)has migrated virtually its entire networking infrastructure, 200 customers and 2,000 servers to Redbus Interhouse’s facility in Amsterdam.