(Applies to: SOFN)
SoftNet's ISP Channel Signs Letter of Intent With US Cable to Provide
150,000 Cable Homes Passed With Broadband Internet Services
SAN FRANCISCO, Aug 10, 2000 (BUSINESS WIRE) -- SoftNet Systems, Inc.
(Nasdaq:SOFN) today announced its wholly owned subsidiary, ISP Channel, has
reached a letter of intent with US Cable, the 23rd largest MSO, for a
10-year
deal to provide Internet-over-cable services for approximately 150,000
homes
passed.
This agreement will bring ISP Channel's cable affiliate roster to 50,
including
those in the U.S., Puerto Rico, and Canada partnering with the company to
deliver Internet-over-cable broadband access, enhanced content, and other
leading-edge services to both residential and business customers.
ISP Channel's president, Jonathan Marx, said, "This is a significant
agreement
for ISP Channel, and we are confident that US Cable will be an excellent
business partner. Through our broadband Internet access service we will
provide
US Cable customers with a dependable high speed connection to the Internet
and
much more. The enhanced content and web publishing tools we offer through
ISP
Channel Neighborhood, the ability to quickly download large files, our
email
products, as well as technology partners such as Inktomi, which provides
caching, have allowed us to expand our reach and make ISP Channel a larger
presence in the U.S. cable access market."
US Cable's vice president, Joseph Appio, said, "US Cable is very excited to
work
with a leader in the broadband Internet service industry. The use of cable
modem
technology exemplifies our commitment to the local communities we serve and
we
are pleased to be able to offer our customers these new value-added
services
alongside traditional cable services."
About US Cable
US Cable Corporation is a multiple system operator (MSO) with a proven
track
record in the cable television industry. US Cable Corporation has compiled
a
record of responsible growth and development in the industry since 1976 and
is
respected as a progressive and innovative cable operator.
Presently, the company has established successful cable operations in ten
states, namely, New Mexico, Texas, South Carolina, Minnesota, Wisconsin,
Colorado, Missouri, New Jersey, Georgia and Florida.
About SoftNet Systems, Inc.
SoftNet Systems, Inc. (Nasdaq:SOFN) is a leading global broadband Internet
services company. SoftNet is known for its leading-edge entry into the
cable
Internet access business through its ISP Channel. ISP Channel currently
services
thousands of cable customers in many communities nationwide with two-way
broadband data services.
SoftNet's Intellicom subsidiary combines broadband Internet services with
sophisticated two-way satellite technology to deliver a complete end-to-end
solution for ISPs, schools, government institutions and businesses. SoftNet
is
also a majority owner and operator of SoftNet Zone, designed to bring
broadband
Internet services to mobile computing business venues including airports,
hotels
and convention centers worldwide.
SoftNet Zone equity partners include CMGI, Compaq and Delta Air Lines, and
primary technology vendors include Nokia and Cisco. Today, SoftNet Zone's
airport storefront property, Laptop Lane, is launched commercially in more
than
12 U.S.-based international airports with contracts for many more in the
near
term.
For further information about SoftNet Systems, Inc. and its subsidiaries,
please
visit www.softnet.com or call 415/365-2500.
This press release contains forward-looking statements concerning the
company's
anticipated future operating results, future revenues and earnings or
adequacy
of future cash flow. (These forward-looking statements include, but are not
limited to, statements containing the words "expect," "believe," "will,"
"may,"
"should," "project," "estimate," and like expressions, and the negative
thereof.) These statements, including the risks attendant to a growing
business
in a new industry as well as those risks described in the company's
Quarterly or
Annual Report.
CONTACT: SoftNet Systems, Inc.
Gloria Parrish, 415/365-2514 (Media contact)
gparrish@softnet.com
Cindy Wyrick, 415/343-2325 (IR contact)
cwyrick@softnet.com
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KEYWORD: CALIFORNIA GEORGIA FLORIDA TEXAS NEW JERSEY MINNESOTA
INDUSTRY KEYWORD: CABLE
INTERNET
NETWORKING
TELECOMMUNICATIONS
MARKETING
AGREEMENTS |
