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IPC Communications and its subsidiary Ixnet have been acquired by Global Crossing, a company headquartered in Hamilton, Bermuda, that is building a global fibre optic network that will serve more than 200 cities. Under the terms of the agreement, 1.184 Global Crossing shares will be exchanged for each Ixnet share not owned by IPC (approximately 27 per cent) and 5.417 Global Crossing shares will be exchanged for each share of IPC. Bob Annunciata, CEO of Global Crossing, says that substantial

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