Vertel Announces Agreement With Lucky Goldstar Information Communications Ltd.; Vertel's $1 Million Contract Solidifies its Market Position in Korea
Business Wire - September 13, 1999 09:31
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Sept. 13, 1999-- Vertel(R) (Nasdaq:VRTL), a leading global provider of management solutions for telecommunications networks and Korea's top supplier of telecommunications management network software (TMN), announced today a $1 million contract with Lucky Goldstar Information Communications, Ltd. (LGIC), a premier manufacturer of next generation telecommunications equipment in Seoul, Korea.
"This agreement allows LGIC to use Vertel's latest generation embedded intelligent network agent to build an effective and competitive management interface for our rapidly growing asymmetric digital subscriber line (ADSL) products," said Kyung-Kuk Lee, Vice President of Transmission System Research Lab at LGIC. "Superior technology and commitment to the access market were the key factors in our decision to standardize on Vertel's embedded management solutions."
As a major player throughout the history of communications in Korea, LGIC is recognized for their ability to deliver leading edge, integrated communications networks. For several years, Vertel has provided LGIC with telecommunications software as they have expanded their operations and established a substantial global presence in this market.
"This agreement consolidates our position in the Korean marketplace and reinforces our strong relationship with LGIC," said Bruce Brown, president and chief executive officer of Vertel. "It also bolsters our position in the global access market, which is the highest growth market segment in the telecommunications industry."
The system that LGIC will deploy using Vertel's management solution is a fiber loop carrier (FLC), one of the most popular transmission and access products in the world and the most highly used product for broadband access in Korea. Providing an open, standards-based management interface on this system will allow LGIC to extend their geographic reach and decrease their time-to-market, giving them an opportunity to significantly expand their market share and increase revenue.
About Vertel Corporation
Vertel is a leading global provider of carrier-grade, broadband Internet software infrastructure and management solutions. Vertel offers a wide range of technologies and applications, supporting end-to-end network and service management with the highest quality of service for network operations. Vertel's solutions are deployed worldwide by service providers, network operators, software vendors, and systems integrators. Vertel also delivers turnkey management applications that fit individual customer requirements through its Professional Services organization. The company is based in Woodland Hills, California and has sales offices throughout the world. Contact Vertel on the World Wide Web at vertel.com.
About LGIC
Lucky Goldstar Information & Communications, Ltd. (LGIC) is an integrated information/communications company which provides customers with the utmost satisfaction by supplying advanced information/communication equipment including exchange systems, transmission devices and terminals since its establishment in 1979. LGIC leads the knowledge-driven society of the 21st century for richer and diversified lives of individuals with advanced technologies. Particularly, LGIC is striving to become the world's best transmission equipment manufacturer by integrating all its capabilities to form the backbone role in establishment of the superhighway information network.
"Safe Harbor" Statements under the Private Securities Litigation Reform Act of 1995: Except for the historical information presented, the matters discussed in this news release are forward looking statements that involve risks and uncertainties, including timely and successful development of products and technologies; successful introduction and customer acceptance of new and enhanced products and technologies in existing and new markets; the possible development and introduction of competitive products and new and alternative technologies; pricing, currency and exchange risks; governmental and regulatory developments affecting Vertel and its customers; the ability to identify, conclude, and integrate acquisitions on a timely basis; the ability to retain and attract key personnel; and other risks detailed from time to time in public disclosure filings with the U.S. Securities and Exchange Commission (SEC) by Vertel, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 1998 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 1999.
CONTACT: Vertel Corp.
Sandy Christopher, 818/227-5735
sandy-christopher@vertel.com
Karin Hollink, 818/227-1478
karin-hollink@vertel.com
or
Ketchum (for Vertel)
Rob Goodman, 916/449-6168
rob.goodman@ketchum.com |
