Title: ADVANCED RADIO TELECOM TO TRIAL 100 MBPS WIRELESS NETWORK IN SILICON VALLEY USING TRITON NETWORK SYSTEMS' INVISIBLE FIBER(TM) PRODUCT
Summary: BELLEVUE, Wash., Jun 8, 1999 /PRNewswire via COMTEX/ -- Advanced Radio Telecom Corp. (Nasdaq: ARTT) announced today that it will utilize Triton Network Systems' consecutive point 100 Mbps radio as part of a trial broadband network platform providing Internet access to selected businesses in Silicon Valley. The trial will evaluate the reliability, quality and cost-effectiveness of deploying consecutive point-based wireless networks using Triton Network Systems' Invisible Fiber Internet products.
ORLANDO, Fla., July 13 /PRNewswire/ -- MILCOM Technologies
(http://www.milcomtech.com), world leader in commercializing military technology,
today announced that its first commercial venture, Triton Network Systems
(TNSI) issued its initial placement at an offering price of $15.00 per share.
The pricing gives the company a valuation of approximately $507 million,
according to documents filed with the SEC. MILCOM launched Triton in April
1997 with High-Power MMIC technology that it licensed from Lockheed Martin
Missiles and Fire Control in Orlando, Fla.
Triton Networks System's Invisible Fiber products allow for the deployment
of broadband fixed wireless products in consecutive point networks. Triton
Network Systems products are designed to provide competitive local exchange
carriers and Internet service providers the quality of traditional fiver
combined with the speed to market and cost benefits of wireless products. The
products have been developed pursuant to an exclusive commercial license
(initially negotiated by MILCOM) with Lockheed Martin to exploit its high-
power monolithic millimeter wave integrated circuit technology.
As a major equity holder, owning 5.8% of Triton Networks, Lockheed
Martin's holdings are valued at $29.5 million at the IPO pricing. Matt Bigge,
CFO of MILCOM, states: "Our mission is to provide our defense industry
partners with substantial returns on their intellectual property (ROIP). We
are extremely proud that MILCOM's efforts in creating Triton will provide a
significant contribution to Lockheed Martin earnings in the next few months
and other MILCOM ventures created with Lockheed Martin technology will
continue to accelerate Lockheed Martin earnings in the future. Today we have
achieved mission success."
In addition to Triton, MILCOM and Lockheed Martin have partnered to create
the following advanced communication infrastructure companies: Teranex,
Centerpoint and Viatech. Mike Buffa, CEO of MILCOM, states: "MILCOM has
worked the last three and a half years to create and fine-tune a
commercialization process with Lockheed Martin that unlocks the true value of
military technologies in the commercial marketplace. Triton is only the
beginning of a number of successful ventures that we intend to create with
Lockheed Martin and other Technology Partners."
About MILCOM Technologies
MILCOM Technologies conceives and creates technology companies using a
proven, risk-mitigation development process that has attracted a number of
top-tier venture capital firms. MILCOM forms high-growth, advanced
infrastructure communications companies based on well-funded, proven
technologies that are typically acquired from major defense companies.
For more information on MILCOM, please visit the web site at
milcomtech.com. |
