Hi Harry; Re AVCI; Regretfully, the WCG bankruptcy could have a negative effect on this agreement.
Business Wire - Thursday, December 06, 2001
N. BILLERICA, Mass.--(BUSINESS WIRE)--Dec. 6, 2001--Avici Systems Inc. (Nasdaq: AVCI), a leading provider of scalable and reliable core routing solutions for the Internet, today announced the company and Williams Communications, LLC have amended their existing procurement agreement, including extending its term through December 31, 2003.
The amended agreement provides for an upfront cash payment to Avici in the amount of $8.5 million, including $2.7 million for additional product deliveries to be made prior to December 31, 2001, and $5.8 million in lieu of specific purchase commitments in the original agreement. Williams can apply the $5.8 million as a credit towards future purchases.
Steve Kaufman, president and CEO of Avici Systems, said, "We will continue to work closely with Williams in their evaluation of high-speed data applications. We look forward to our ongoing relationship as they build out their high-speed core network." |
