MTWV,also on Briefing:
Metawave and Verizon Wireless Ink Deal for Smart Antenna Solutions Verizon Wireless Selects Metawave Smart Antenna Solutions as a Means for Increasing Capacity and Enhancing the Performance of Its Wireless Networks
REDMOND, Wash. & BEDMINSTER, N.J., Jun 13, 2001 (BUSINESS WIRE) -- Metawave(R) Communications Corp. (Nasdaq: MTWV chart, msgs), a global provider of smart antenna solutions that increase voice and data capacity for wireless carriers, and Verizon Wireless, the nation's largest wireless provider, today announced the signing of an agreement to supply smart antenna products.
The agreement consolidates previous agreements that Metawave had in place with Bell Atlantic, AirTouch and GTE. Under the terms of the agreement, Metawave will supply Verizon Wireless with smart antenna systems that are designed to increase the capacity and improve the performance of CDMA wireless networks.
"Our investment decision was based on critical factors that will enable us to meet our customer expectations for ubiquitous wireless voice and data services," said Ed Curran, executive director of network purchasing for Verizon Wireless. "The popularity of our nationwide SingleRate(SM), local and regional calling plans coupled with unabated growth in wireless usage require that we grow our networks to sufficiently accommodate voice and data traffic. Smart antennas supply us added capacity and deployment flexibility to aid us in meeting these critical growth needs."
"By deploying our smart antenna solutions, customers such as Verizon Wireless gain more capacity and better performance at a lower cost," said Bob Hunsberger, chairman and chief executive officer at Metawave. "We are effectively helping our customers gain competitive advantage."
Metawave will supply Verizon Wireless with a suite of smart antenna solutions including systems for three-sector and six-sector CDMA 800 MHz and 1900 MHz networks. The company's SpotLight(R) CDMA smart antenna systems have been shown on commercial networks to provide significant capacity gain. SpotLight CDMA smart antenna systems are designed to support voice and data services as the industry moves to 3G networks. Embedded smart antenna solutions for application in 3G networks are also in development.
ABOUT METAWAVE
Metawave(R) Communications Corp. is a global provider of smart antenna systems that increase voice and data capacity for wireless carriers. The company's SpotLight(R) smart antenna systems provide operators of CDMA, GSM and analog wireless networks with cost-effective capacity solutions that improve wireless network performance. Metawave's smart antenna systems have been deployed worldwide by leading wireless service providers to meet rapidly increasing demand for wireless voice and data services. Founded in 1995, the company is headquartered in Redmond, Washington, with offices in Dallas, Mexico City, New Jersey, Sao Paulo, Shanghai and Taipei. The company is publicly traded on NASDAQ under the ticker symbol MTWV. For more information, call 888/METAWAVE or visit the company's Web site at metawave.com.
ABOUT VERIZON WIRELESS
Verizon Wireless is the largest wireless communications provider in the U.S. with more than 27 million wireless voice and data customers. The coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Verizon Communications (NYSE: VZ chart, msgs) and Vodafone (NYSE and LSE:VOD), including Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless and PrimeCo Personal Communications. Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 96 of the top 100 U.S. markets. The company, headquartered in Bedminster, NJ, is 40,000 employees strong. Reporters and editors can find more information about the company on the Web at verizonwireless.com. |
