Avici Systems Announces Termination of Alcatel Supply Agreement
Friday October 6, 7:30 am ET
NORTH BILLERICA, Mass.--(BUSINESS WIRE)--Avici Systems Inc. (NASDAQ: AVCI - News), today announced that it has terminated its supply agreement with Alcatel Teletas to provide its customer with the Avici TSR® core routing solution.
"We continue to execute on our focused strategy aimed at driving to profitability and positive cash flow. Tactically, that means we will concentrate our energies on those opportunities that are consistent with that goal and provide the optimal return for each dollar invested," said Bill Leighton, President and CEO of Avici Systems.
Under the Resolution Agreement, Avici and Alcatel Teletas will enter a transition period during which they will unwind the financial arrangements and decommission the routing equipment. Avici will provide support to Alcatel Teletas during this transition period.
About Avici Systems
Avici Systems Inc., headquartered in North Billerica, Mass., is a leading provider of purpose-built carrier-class routing solutions for the Internet. Avici's family of routers is designed to meet carrier requirements for the highest scalability, reliability and network availability, while lowering the total cost of building and operating their networks. The company's routing systems provide new IP solutions to some of the world's leading service providers. For more information, please visit us at www.avici.com. |
