Matt Carolan

Cable & Wireless announced Friday that it will acquire most of the assets of Exodus Communications in an all-cash transaction of $575 million. Cable & Wireless will also assume approximately $180 million in Exodus debt. The London-based telecommunications giant will acquire Exoduss American, Japanese and European customer contracts, and other assets, including 26 data centers […]

National Homeland Security and Defense director Tom Ridge on Tuesday offered a glimpse at a growing federal and perhaps international strategy for sharing health information in the wake of a biological crisis. During prepared remarks Ridge cited the need to better share information among “first responders” to a national emergency, including health professionals. “We also […]

Brocade Communications Systems, Inc. on Wednesday beat analyst expectations for its fiscal fourth quarter, and touted a growth in annual revenue. The storage networking technology maker reported diluted pro forma net income of 5 cents per share or $10.9 million. Analysts were expecting earnings of 4 cents per share. In the same quarter last year […]

Struggling broadband services provider XO Communications, Inc. on Thursday announced two major new investments in the company totaling $800 million, but also that current shareholders will lose “substantially all of the value of their investment” as a result of restructuring. Investment firm Forstmann Little and Telefonos de Mexico will each invest $400 million in XO, […]

Oracle CEO Lawrence Ellison and Apple CEO Steve Jobs today jumped into the burgeoning effort by tech companies to aid the nations schools. Following on the announcement by Microsoft Corp. that it had settled long running private antitrust suits against it by offering a $1 billion donation in Microsoft software, hardware and training to the […]

Microsoft is close to settling numerous private antitrust suits against it, and public schools may benefit. Citing academics and attorneys close to the discussions, The Wall Street Journals online edition reported Tuesday that Microsoft was putting the finishing touches Monday evening on an agreement for the company to provide software and computers to more than […]

Struggling telecommunications company Global Crossing announced Monday that it will sell its IPC Trading Systems unit to an investment group led by Goldman Sachs Capital Partners 2000 for $360 million in cash. Originally acquired in June 2000 by Global Crossing as part of the acquisition of IXNet, IPC Trading Systems provides desktop trading systems to […]

Tellabs today announced that it is laying off 1,000 people worldwide and closing two facilities in the United States. Citing the continuing doldrums in spending by communications carriers, Tellabs said it will close its manufacturing facility in Round Rock, Texas, and a research and development facility in Plymouth, Minn., and that overall 800 employees in […]

The downturn in the IT market has taken its toll on Novell. The Net services software maker announced today that it is cutting its workforce by approximately 1400 positions, or 19 percent. Novell also announced a pre-tax restructuring charge of approximately $55 million, most of it taken in the companys fiscal fourth quarter, which ended […]

Yahoo! said on Thursday that it will cut 400 jobs, or 13 percent of its workforce in a company reorganization that will also include reducing the number of business units from 44 to six, according to published reports. Yahoo! executives, speaking at the companys “analyst day,” described the moves as an attempt to make Yahoo! […]