Here's the STLC + Sattel Deal as just announced. Looks like a winner !
CHATSWORTH, CALIF. (Sept. 18) BUSINESS WIRE -Sept. 18, 1996--StreamLogic Corp. (NASDAQ:STLC) Wednesday announced that it has formed a joint venture company with Sattel Communications LLC, a subsidiary of the Diana Corp. (NYSE:DNA).
The new venture, SatLogic LLC, is marketing network communications services, along with related hardware and software to Internet service providers (ISPs) and other value added service providers.
SatLogic's network will have a national multi-service Internet access platform, and will offer ISPs an alternative approach to traditional capital-intensive private network positioning.
SatLogic's network can be leased by an ISP at the node or port level to geographically extend or supplement their current network, or to save them the expense of building a new network.
"SatLogic provides the basis for StreamLogic to combine its core competency in video networking with Sattel's switching technology. Initially, SatLogic will market network communication services in conjunction with StreamLogic and Sattel hardware and software products," said J. Larry Smart, president and CEO, StreamLogic Corp.
"This is an exciting new business which is targeted at some of the most exciting new markets in our industry. The formation of SatLogic is an important step in the re-positioning of StreamLogic to leverage our significant technical competencies and develop the exciting new business prospects in the Internet and intranet markets." "SatLogic will offer ISPs a cost effective network infrastructure that enables them to take advantage of new applications and services as the Internet becomes commercialized," said James J. Fiedler, chairman and CEO, Sattel Communications.
About StreamLogic StreamLogic develops and markets leading-edge video delivery, digital media storage and networking RAID and data management solutions. Current product offerings include VIDEON, the industry's first family of video-on-demand server subsystems, the innovative Video Disk Recorder (VDR) video editing appliance, the award-winning Hammer high-performance storage products and the industry-leading RAIDION family of fault-tolerant network RAID and data management solutions.
Additional information on StreamLogic can be found at streamlogic.com.
Sattel Communications, with headquarters in Calabasas, Calif., provides scalable switching solutions to traditional and emerging telecom carriers and Internet service providers. Information about Sattel Communications, its products and a White Paper on the Internet Service Providers challenge can be found on the World Wide Web at sattelcom.com.
--30--jw/la CONTACT: StreamLogic Corp., Chatsworth
Lee Hilbert, 818/701-8404
Vivien Avella, 818/701-8419
or
Sattel Communications
Tony Squeglia, 818/878-7711
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