Press Release Source: TTR Technologies, Inc.
TTR Stockholders Approve Agreement With Lucent Technologies
Thursday March 4, 11:30 am ET
NEW YORK--(BUSINESS WIRE)--March 4, 2004--TTR TECHNOLOGIES, INC., (OTC BB: TTRE - News) announced today that its stockholders approved the development and licensing agreement between TTR and Lucent Technologies (NYSE: LU - News) at a special meeting held today. Under the agreement, Lucent is to develop for TTR next-generation "Triple Play" management and routing technology, designed to provide Fiber-to-the-Premises (FTTP) capabilities to customers for video, data, and voice-over-Internet protocol (VoIP) services.
The technologies represent state of the art Ethernet and IP/MPLS products and solutions. These technologies are a result of focused research, design and development efforts by Bell Laboratories and are designed to provide industry-leading Quality of Service (QoS), high reliability, and an extremely scaleable system to the broadband access market. Service providers, municipalities and new home builders around the globe who wish to satisfy the increasing consumer demand for video, data and voice services should find these products of the highest quality and performance.
Mr. Juan Mendez, the Chairman of the Board of TTR, stated, "TTR is now uniquely positioned to play a major role in this developing broadband access marketplace. Under the leadership of TTR's new Chief Executive Officer, Mr. Frank Galuppo, TTR will be in a position to build a world-class organization and rapidly bring unique products with a differentiated value proposition to this attractive market." Mr. Galuppo is scheduled to assume his position as TTR's Chief Executive Officer beginning March 15, 2004.
"I am excited to have such a unique opportunity in an organization that has a strong product portfolio in this exciting marketplace. My goal is to build a company that is driven by customer needs and one that provides products and support services second to none," said Mr. Galuppo.
About TTR Technologies, Inc.
TTR Technologies, Inc. is focused on delivering Ethernet solutions to the Fiber-to-the-Premises (FTTP) broadband access market. The company's solutions provide high performance, scalable, and reliable customer premises, access aggregator and central office products enabling high speed Internet access, video applications and voice-over-Internet protocol services to end customers in a cost effective manner. |
