Complex sentence: Cable and Wireless USA purchased bankrupt web hosting/co-location provider Exodus Communications for $800 million dollars, the operations were merged with the previously acquired Digital Island and renamed Cable and Wireless America.
Split into simpler sentences: Cable and Wireless USA purchased bankrupt web hosting/co-location provider Exodus Communications for $800 million dollars. C&W merged its smaller US operation, the previously acquired Digital Island, with the larger Exodus operation and renamed it Cable and Wireless America.