Broadband Investment Group and Zhone Technologies Form Strategic Partnership
RELATED SYMBOLS: (LU)
ST. LOUIS, Jun 19, 2000 (BUSINESS WIRE) --
BIG's Fiberian Portfolio Company To Use Zhone's ARCA-DACS Equipment
Today, Broadband Investment Group Corporation(TM) (BIG)(TM), the first true
networked services platform (NSP)(TM), through its Layer Two portfolio company,
Fiberian Corporation(TM), formally signed a non-binding letter of intent with
Zhone Technologies Inc., the first company dedicated to building comprehensive
delivery solutions for voice, data, and content service providers worldwide to
purchase nearly $2.7 million of Zhone's ARCA-DACS digital cross connect
technology. The selection of the ARCA-DACS as a TDM aggregator will be used in
Fiberian's point-to-point ATM and Frame Relay network services, announced
Timothy M. Roberts, Chairman of the Board, Chief Visionary Officer, and Director
of Broadband Investment Group Corporation.
"Zhone is a proven equipment pioneer developing, delivering and supporting
telecommunications carriers worldwide," said Roberts. "This deal is exciting
because BIG will use Zhone's cutting-edge and proven DACS/TDM technology in our
quest to provide 100 percent transaction guarantees for our customers.
Additionally, this letter of intent demonstrates to BIG's customers and
investors our commitment to provide the best global broadband infrastructure -
delivering the industry's highest quality of service through service level
agreements that have meaning."
The general terms of the letter of intent outline BIG's intent to purchase
approximately $2.7 million of Zhone equipment through an equity partnership and
financing arrangement. The specifics of the equity and financing terms will be
announced upon execution of the final contract.
"Zhone Technologies is an innovator in the telecommunications and network
industries, and we are excited to partner with BIG as we consider their NSP
business model an industry leader in the delivery of high-quality broadband
infrastructure and associated services," said Mory Ejabat, Chairman and CEO,
Zhone Technologies Inc.
As one of 10 portfolio companies formed by BIG, Fiberian will provide
point-to-point ATM and Frame Relay Service to businesses seeking to build
private networks - all built upon Lumas'(TM) (another BIG company) redundant
Layer One network. This experience, developed and refined for BIG's
infrastructure build-out and implementation, will be leveraged for Fiberian's
own customer base.
"Fiberian is excited to partner with Zhone, an industry-proven company that
understands our vision of exceeding our customers expectations," explained Dan
P. Kennedy III, Chief Operating Officer, Fiberian.
About Zhone Technologies, Inc.
Founded in September 1999 and based in Oakland, Calif., Zhone Technologies is a
new breed of equipment provider with a new vision of product development,
delivery and support for telecommunications carriers worldwide. Starting with an
unprecedented $500 million in funding, Zhone's strategy is to combine existing
solutions with Zhone intellectual property to create a product portfolio that is
purpose-built to cost effectively supply multi-million-user, next-generation
networks with a rich array of voice, video, Internet, and entertainment
services. The company was founded by the senior management team that grew
telecommunications pioneer Ascend Communications, Inc., from its startup roots
to the multi-billion-dollar company acquired by Lucent Technologies (NYSE: LU)
in September 1999. Zhone's initial investors include Kohlberg Kravis Roberts &
Co., Texas Pacific Group, and New Enterprise Associates.
Please visit Zhone's Web site at www.zhone.com for additional information.
CONTACT: Broadband Investment Group
Robert H. Rose, 636/530-2560
roser@bigcorp.net
or
Zhone Technologies Inc.
Tim Donovan, 510/777-7020
Tdonovan@zhone.com
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
KEYWORD: MISSOURI
INDUSTRY KEYWORD: E-COMMERCE
INTERNET
NETWORKING
MARKETING
AGREEMENTS
(Public Company & Wall Street & Business & High Tech)
A service of the Financial Data Cast Network (FDCN) and
Window On WallStreet Inc. |
