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Technology Stocks : Stratex Networks, Inc. (STXN)
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To: lazarre who wrote (913)4/12/2000 5:38:00 PM
From: Rob Preuss  Read Replies (1) of 1762
 
DMIC should benefit from this deal...

Since Nortel is a DMIC customer, I expect that this
deal will mean more sales of DMIC's Altium radio.

======

Wednesday April 12, 4:27 pm Eastern Time

Nortel sets $500-million supply deal with Verizon

(Figures in U.S. dollars)

TORONTO, April 12 (Reuters) - Nortel Networks Corp.
(Toronto:NT.TO - news) is poised to sign a two-year $500-
million pact with U.S. communications provider Verizon
Wireless to supply it with wireless and optical equipment.

In a release on Wednesday, Verizon said it had signed a
letter of intent with Brampton, Ontario-based Nortel, the
world's second-largest network equipment supplier, for the
deal, which is expected to lead to significant savings on
Verizon's network costs.

``Continued investment in our CDMA network will enable
Verizon Wireless to efficiently and cost-effectively expand
its CDMA network to support today's subscriber growth and
meet future growth forecasts,' Richard Lynch, Verizon's
executive vice-president and chief technical officer, said in
a release.

Last week, Verizon announced it planned one of the wireless
industry's largest capital investments. It said that by the
end of this year, it will invest more than $3 billion in its
U.S. network to increase its capacity for wireless voice and
data services.

Verizon is the largest wireless communications provider in
the U.S. It was formed by the combination of the U.S.
wireless businesses of Bell Atlantic Corp. (NYSE:BEL - news)
and Vodafone AirTouch Plc (quote from Yahoo! UK & Ireland:
VOD.L).
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