( EXDS) confirmed this morning that it is buying
hosting unit, for about $6.5 billion in stock. The business manages company Web sites.
The deal also includes a 10-year network services agreement that could generate about $4 billion in revenue for Global Crossing. Exodus will become the biggest Web-hosting business.
Exodus was lately traded at $52 in preopen trading on
, down from Wednesday's close at $53.25, while Global Crossing was traded at $32, up from Wednesday's close at $29.88.