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NEON Communications Inks $28 Million in Bookings With Three Major Carriers
WESTBOROUGH, Mass., Oct 26, 2000 (BUSINESS WIRE) -- NEON Communications Inc. (NASDAQ: NOPT chart, msgs) has today announced new bookings for circuits and services with three major carriers for a combined value of $28 million over five years. The carriers are not identified, according to pre-existing confidentiality agreements with NEON. They represent three NEON core customers in the Northeast and Mid-Atlantic regions, but only 50% of third quarter bookings by NEON.
Under the largest contract, NEON will provide high-bandwidth capacity for transport services in New York and the Mid-Atlantic area to a large Internet company. NEON is providing this customer with innovative solutions, utilizing Nortel Network's Optera Metro platform, that permit extremely fast scaling for the customer's explosive Internet growth.
Two additional customer contracts call for lit services in the Northeastern states, consisting of multi-year contracts for OC3, OC12 and OC48 levels of lit service as well as a number of related collocation leases at various NEON Points of Presence (POPs) and at ILEC Central Offices.
"The quantity and quality of this new business, with some of the most successful carriers in the country, is continued evidence of strong carrier demand in our footprint for exactly the kind of SONET services that we sell," said NEON President and Founder Victor Colantonio. "NEON has started taking orders in the New York and Mid-Atlantic regions where we are just now in the initial stages of launching our services on the expanded NEON network as a result of the closing of the Consolidated Edison Communications and Exelon transactions which we announced in September.
NEON Communications Inc. is a "carriers carrier," providing high bandwidth fiber optic capacity and comprehensive end-to-end communications solutions to communications companies on a 2,000-mile inter-city, regional and metro network in the $50 billion, eleven-state Northeast and Mid-Atlantic market, including Boston, New York, Philadelphia and Washington, DC.
"NEON" is a registered trademark of NEON Communications Inc.
(Note:This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements concerning future plans for expansion and completion of the NEON system. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated, including those risks detailed in the section entitled "Risk Factors" and elsewhere in the Company's Registration Statement on Form S-3 (File No. 333-34134), Annual Report on Form 10-K for the year ended December 31,1999 and subsequent filings with the Securities and Exchange Commission, and should be read in light of these risks. The Company assumes no obligation to update the information contained in this news release.)
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