360networks Announces long-term service agreement with Deutsche Telekom worth an estimated $230 million
VANCOUVER, Dec. 19 /PRNewswire/ - 360networks, a global provider of broadband network services, and Deutsche Telekom, Europe's largest telecommunications company, today announced the signing of a network services agreement. The potential value of the broadband capacity, dark fiber, colocation and maintenance service agreement is estimated at US $230 million.
360networks will provide multiple 2.5 gigabit-per-second wavelengths throughout its North American network to Deutsche Telekom. Under the agreement, Deutsche Telekom will also be able to purchase dark fiber infrastructure and equipment maintenance services from 360networks on the same network for the next 20 years, as well as colocation and other related services.
``We are pleased to be working closely with one of the world's largest and most successful telecommunications companies,'' said Greg Maffei, president and chief executive officer of 360networks. ``This is a major sale that demonstrates the extensive range of network services and infrastructure we can bundle and sell to the most demanding telecommunications and data-driven companies.''
The contract will enable Deutsche Telekom to move a step closer in completing the company's seamless global network platform. This network will link 90 major business districts in 40 countries and offer customers virtually unlimited international transmission capacities with maximum network security.
About 360networks
360networks (NASDAQ: TSIX and TSE: TSX) offers broadband network and colocation services to telecommunications and data-centric organizations. 360networks is developing one of the largest and most technologically advanced fiber optic mesh networks in the world. By mid-2002, the planned network will span 142,000 kilometers (88,000 miles) and link more than 100 major cities with terrestrial routes and submarine cables joining North America, South America, Asia and Europe. 360networks is also developing nearly 3.7 million square feet of network and server colocation space. More information is available at www.360.net.
About Deutsche Telekom
Deutsche Telekom is Europe's largest telecommunications company and the fourth largest carrier worldwide, with 1999 revenues of EUR 35.5 billion (US$ 31.5 billion). The company offers its customers a complete range of products and services through more than 50 million telephone lines. It is a leading provider of high-speed digital access lines, with actually more than 16 million marketed ISDN channels, and new ADSL services that will be available in 60 percent of Germany by the end of 2000 and 90 percent of the country by the end of 2001.
In online services, the company's T-Online subsidiary is Europe's largest Internet provider with 8.3 million registered customers, including 7 million subscribers with online access through companies of the Telekom Group. Via its mobile subsidiary T-Mobile International, Deutsche Telekom today serves more than 30 million mobile telephony customers in Europe through majority- and minority-controlled operations. The company is also the second largest European provider of information technology solutions to multinational companies worldwide via its majority investment in debis Systemhaus. Visit the Deutsche Telekom web site at: www.telekom.de/international.
Forward looking statements: This document may contain statements about expected future events and financial results that are forward looking in nature, and, as a result, are subject to certain risks and uncertainties. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbor for ``forward looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995.
SOURCE: 360networks inc. |
