Elastic News
Tuesday January 23, 8:11 am Eastern Time
Press Release
Elastic Networks Teams with Keval On-line Technology Development to Provide `3DDS - BitStorm' Broadband Access Solutions Across Asia
ALPHARETTA, Ga.--(BUSINESS WIRE)--Jan. 23, 2001-- Elastic Networks Inc. (NASDAQ: ELAS - news) today announced it has teamed with Keval On-line Technology Development, Ltd., a leading technology manufacturer and marketer of advanced telecommunication products and services in China, to provide advanced broadband equipment in Asia.
Under the agreement, Keval will manufacture and market ``3DDS - BitStorm'' solutions across mainland China, Hong Kong, Korea, and other Asian markets.
Keval's 3DDS - BitStorm solutions include 3DDS Central Office (CO) and customer premise equipment (CPE) that deliver advanced IP based multi-media applications, such as video-on-demand and video conferencing, as well as basic Internet access and lifeline voice service, over existing copper telephone wiring. The 3DDS - BitStorm solutions will provide upstream and downstream speeds up to 6Mbps, with plans to migrate to 10Mbps in Q3 of 2001.
``Our agreement with Keval is a major step in the adoption of BitStorm's IP technology as the global broadband technology of choice,'' said Larry Hurtado, president of international operations for Elastic Networks. ``Elastic and Keval's 3DDS - BitStorm products will extend the interactive Internet to the Asia-Pacific Region.''
The Chinese government has authorized Keval On-line to work with city planning groups to establish a 3DDS - Video Newmedia Network in 23 cities across China as part of a national 'digitized cities and electronic government' program. Elastic Networks will work with and support Keval from its newly opened Hong Kong office located in the Quarry Bay district. The office houses marketing and technical support personnel focused on the Asian market.
The agreement with Keval is part of Elastic Networks' Technology Partner Program, offering strategic partner companies a continuum of integration options, ranging from private labeling of the BitStorm-based product line, to chip set sourcing, to full scale integration.
``Asia is one of the largest, under-served markets for high-speed access in the world,'' says Matt Davis, analyst for the Yankee Group. ``Unencumbered by heavy investments in ATM and DSL networks, Asian carriers are in a better position to utilize a native IP solution by deploying the latest Ethernet-based technology to take advantage of the universal demand for faster connections to the Internet.''
Elastic Networks Inc. (NASDAQ: ELAS - news) is a leader in innovative, next-generation DSL technology and high-speed Internet access solutions, enabling telecommunications service providers to easily offer affordable broadband services that simplify the way people connect. By leveraging its technological differentiation in speed, deployability, and economics, and by building strategic relationships with distributor, chip manufacturing, and data networking partners, Elastic Networks continues to increase the pervasiveness of its technology in markets throughout the world. The company has offices in Alpharetta, GA, Toronto, and Hong Kong. For more information about Elastic Networks and its high-speed access and subscriber management solutions, visit www.elastic.com, www.speedupamerica.com, or contact Elastic's U.S. headquarters in Alpharetta, Georgia, directly at (678) 297-3100. For investor information, e-mail Elastic at irinfo@elastic.com, or call (678) 297-3100.
Forward looking statements
Certain of the statements contained in this release are forward-looking statements (rather than historical facts) that are subject to risks and uncertainties that could cause actual results to differ materially from those described. With respect to such forward-looking statements, the Company seeks the protections afforded by the Private Securities Litigation Reform Act of 1995. These risks include, without limitation, (1) that the Company may fail to be competitive with existing and new competitors, (2) that the Company may not maintain or grow its level of revenues, given its currently limited customer base, (3) that the Company's limited number of product offerings may fail to achieve widespread market acceptance, (4) that negative changes in customer demands and requirements regarding our prices, technology and products may occur, (5) that DSL technology may fail to achieve widespread market penetration, (6) that interruptions or disruptions in our product shipments and/or our various arrangements with our distributors, manufacturers or resellers may negatively impact our ability to make sales and/or minimize our costs, (7) that the Company may not adequately respond to technological and regulatory developments impacting the telecommunications industry, (8) that needed financing may not be available to the Company if and as needed, (9) that a decline in the size and potential growth of the MTU, carrier and international markets for our technology may occur, (10) that a significant reversal in the trend toward increased usage of the Internet may occur, (11) that a drastic, negative change in the U.S. economy or market conditions may occur, and (12) that some other unforeseen difficulties may occur from time to time. This list is intended to identify certain of the principal factors that could cause actual results to differ materially from those described in the forward-looking statements included elsewhere herein. These factors are not intended to represent a complete list of all risks and uncertainties inherent in the Company's business, and should be read in conjunction with the more detailed cautionary statements included elsewhere in the Company's most recent filings with the SEC.
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Contact:
Elastic Networks Inc., Alpharetta
Lorraine Stewart, 678/297-3060
lstewart@elastic.com
or
GCI Group
Melissa Davis, 404/870-6790
mdavis@gcigroup.com
or
Becca Brett, 404/898-1643
bbrett@gcigroup.com |
