| | Redback Networks Wins Multi-Million Dollar National DSL Contract From Korea's Hanaro Telecom
Korea's Largest ADSL Service Provider to Deploy SMS 10000 in 10 Major Cities
SEOUL, Korea, Jul 17, 2000 (BUSINESS WIRE) -- Hanaro Telecom (NASDAQ: HANA chart, msgs), the first provider to offer local call service following telecommunications de-regulation, is harnessing the power of Redback Networks' (NASDAQ: RBAK chart, msgs) Subscriber Management System(TM)(SMS) to create one of Asia's most sophisticated broadband public networks capable of delivering large scale value-added IP services.
The multi-million U.S. Dollar agreement will result in the installation of multiple Redback SMS 10000 units in 10 key cities across Korea. Delivering unprecedented scalability, performance and carrier-class redundancy, the SMS 10000 features powerful hardware purpose-built for scaling this broadband network to millions of subscribers.
"When Hanaro was selected as Korea's second nationwide local call service in 1997, we made some pledges to our customers and the country," said Mr. Bae Dong-Hwa, director of Transmission Network Planning Team, Hanaro Telecom. "Installing the Redback SMS means that we can now meet our key pledges. We are creating a state-of-the-art network that will drive the demand for high-speed data communications, but at the same time we're investing efficiently and establishing a reliable management system that will provide our customers access to the most exciting and innovative broadband services."
The SMS 10000 units installed in cities such as Seoul, Pusan, Incheon, Suwon, Kwangju, Taejon, Taegu and Ulsan will manage the provisioning of services to Hanaro's broadband subscriber base, currently growing at 8,000 subscribers per day.
"Korea is a key market for Redback, and we are extremely encouraged by this important new customer," said Steve Young, vice president of Asia Pacific operations at Redback Networks. "Hanaro is an aggressive company with an exceptional track record. By installing the SMS 10000, Hanaro is clearly demonstrating to its customers and competitors in Korea that it is committed to developing one of the most sophisticated broadband networks in Asia."
A key element of the relationship is Redback's ability to deliver systems that support very high-speed interfaces and offer high subscriber density for this rapidly growing carrier. "From initial evaluation to installation and acceptance, this project schedule is just five months," said Miss Son Yoon-Kyoung, Hanaro Test Team Leader. "Fast implementation was a vital element of the deal and Redback responded magnificently. Redback was selected for a number of reasons, but primarily they had the knowledge, flexibility, and services to support the latest technology with the most diverse set of features and functions."
About Hanaro Telecom
Hanaro Telecom has seven major shareholders: Dacom; SK Telecom; Daewoo Telecom; Samsung Electronics; Hyundai Electronics; Korea Electric Power Corp; and ThruNet. The company was Korea's second provider of local call services after the monopoly of state-run telecom giant Korea Telecom was broken in 1997. Within just two months of its establishment, the company had already lured 78,000 subscribers and today has more than 800,000 subscribers across Korea.
About Redback Networks, Inc.
Founded in 1996 and headquartered in Sunnyvale, California, Redback is a leading provider of advanced networking solutions that enable carriers, cable operators, and service providers to rapidly deploy broadband access and services. The company has offices in eight countries in Asia-Pacific, including Japan, Korea, China, Hong Kong, Taiwan, Thailand, Singapore and Australia. Key customers in the region include Chunghwa Telecom, Guangdong PTA and Singapore Telecom. The company's market-leading Subscriber Management Systems (SMS) connect and manage large numbers of subscribers using any of the major broadband access technologies such as Digital Subscriber Line (DSL), cable, and wireless. To deliver integrated transport solutions for metropolitan optical networks, Redback's SmartEdge multi-service platforms leverage powerful advances in application-specific integrated circuit (ASIC), IP, and optical technology. With this product portfolio, Redback Networks is the first equipment supplier focused exclusively on developing integrated solutions for the New Access Network.
Redback and the Subscriber Management System are trademarks of Redback Networks, Inc. Other trademarks, service marks, and trade names belong to their respective owners.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Redback Networks' expectations, beliefs, intentions or strategies regarding the future. Forward-looking statements include statements regarding future sales and project schedules and plans. All forward-looking statements included in this document are based upon information available to Redback Networks as of the date hereof, and Redback Networks assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to Redback Networks' business are set forth in the documents filed by Redback Networks with the Securities and Exchange Commission, specifically the most recent report on Form 10-Q, and the other reports filed from time to time with the Securities and Exchange Commission. |
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