Compaq spins off PAIX

Sells it for $70m cash+considerations

Compaq has started spinning off its acquired companies barely ten minutes in IT terms after it bought them. The latest to go is Palo Alto Internet Exchange (PAIX), which Compaq has sold to AboveNet for a cool $75 million, most of which is cash. AboveNet will provide "certain services" to its ex owner. ®

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