ADCT/RBAK Alliance news from our "new" corporate:
Monday March 20, 7:01 am Eastern Time
Company Press Release
ADC and Redback Networks Team to Deliver SONET and IP Transport Solutions for Cable Market
Agreement Enables ADC to Sell Jointly Developed Video Transport Solutions
MINNEAPOLIS--(BUSINESS WIRE)--March 20, 2000-- ADC (Nasdaq: ADCT; www.adc.com) today announced that it has signed an agreement with Redback Networks that leverages each company's unique strengths to form a powerful team to provide integrated Internet/data, video and voice solutions to the broadband multimedia market. Under this agreement, ADC will develop video interface modules for Redback Networks' multi-service platforms, and have the right to market and sell those Redback Networks products to the cable television market. Additionally, Redback gains the right to sell ADC's video modules into non-cable markets.
The ADC-Redback Networks agreement combines ADC's strength in video transport technology with Redback's leading SONET and IP expertise, yielding a universal transport and access platform that will allow cable providers to cost-effectively deliver high quality video, digital TV (DTV), high definition TV (HDTV), voice and data over SONET/IP networks. As a result of this agreement, Redback's platforms will incorporate the video features required to meet tomorrow's evolving multimedia network requirements, further strengthening ADC's position as a premium video transport supplier.
``By combining forces, this agreement allows each company to reach larger markets,' said Arun Sobti, president of ADC's Broadband Access and Transport Group. ``With ADC's video technology, knowledge base and vast distribution channel, and Redback's expertise in SONET and IP networking, together we have a winning product and market strategy with which to build comprehensive next-generation networks.'
``It is clear that the trend in the telecommunications marketplace is towards building next-generation SONET- and IP-based networks,' said Vivek Ragavan, president and chief operating officer of Redback Networks. ``We expect the demand for IP-based delivery of integrated video, voice and data to grow exponentially over the next few years. Our agreement lets us take advantage of ADC's expertise in developing video transport interfaces, as well as their strong presence in the cable television video transport marketplace. Together, we can deliver a very powerful solution for next-generation optical network operators.'
About ADC
ADC Telecommunications, Inc. is a leading global supplier of network equipment, software and integration services for broadband, multiservice networks that deliver data, video and voice communications over telephone, cable television, Internet, broadcast, wireless and enterprise networks. ADC's broadband, multiservice network solutions enable local access, high-speed transmission and software management of communications services from service providers to consumers and businesses over fiber-optic, copper, coaxial and wireless media. Headquartered in Minneapolis, Minnesota, ADC has approximately 14,400 employees around the world and annual sales of $2.1 billion. ADC's stock is included in the Standard & Poor's 500 Index and the Nasdaq-100 Index. For additional information, visit our Web site at www.adc.com.
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Contact:
ADC Telecommunications, Minneapolis
Rob Clark - ADC Public Relations
(612) 914-6355
rob_clark@adc.com
or
Mark Borman - ADC Investor Relations
(612) 946-3338
mark_borman@adc.com |
