Qwest and Verio Inc. Sign $100 Million Capacity Agreement
Business Wire - April 01, 1998 07:46
%QWEST QWST %COLORADO %COMPUTERS %ELECTRONICS %COMED %TELECOMMUNICATIONS %INTERACTIVE %MULTIMEDIA %INTERNET V%BW P%BW
DENVER--(BUSINESS WIRE)--April 1, 1998--Qwest, a multimedia communications company building the world's most advanced fiber optic network, and Verio Inc., one of the nation's largest full-service Internet companies for businesses and institutions, today announced a seven-year, $100 million contract by which Verio will have access to capacity on Qwest's domestic 16,285-mile Macro Capacity(SM) Fiber Network.
"We are pleased to provide Verio with capacity on Qwest's state-of-the-art fiber network," said Joseph P. Nacchio, president and CEO at Qwest. "Verio has grown quickly to a prominent position in the Internet industry because of its success in combining local, hands-on service with a national, high-speed network that can support the increasingly sophisticated needs of its business customers."
"Our seven-year agreement with Qwest underscores Verio's ongoing effort to provide a high-speed, highly reliable network for our business and institutional customers around the country," said Verio chief executive officer Justin Jaschke. "Qwest's high-capacity nationwide network will provide Verio with a strong facilities base to support our continued rapid growth and to develop a wide range of enhanced Internet products and services to meet our customers' expanding telecommunications requirements."
The Qwest Macro Capacity Fiber Network
Qwest's planned domestic 16,285 mile network will serve over 125 cities, which represent approximately 80 percent of the data and voice traffic originating in the United States, upon its scheduled completion in the second quarter of 1999. Currently, 3,750 miles are activated from Los Angeles to Cleveland; and from Dallas to Houston. Qwest is also extending its network 1,400 miles into Mexico with completion slated for late third quarter 1998.
The Qwest Macro Capacity Fiber network is designed with a highly reliable and secure bi-directional, line switching OC-192 SONET ring architecture. Upon completion, the network will offer a self-healing system that provides the ultimate security and reliability by allowing instantaneous rerouting in the event of a fiber cut.
About Qwest
Qwest Communications International Inc. (NASDAQ:QWST) is a multimedia communications company building a high-capacity, fiber optic network for the 21st century. With its cutting-edge technology, Qwest will deliver high-quality data, video and voice connectivity securely and reliably to businesses, consumers and other communications service providers. Further information is available at www.qwest.net.
About Verio Inc.
Founded in 1996, Verio Inc. is a leading, full service, national provider of Internet connectivity and enhanced Internet services with an emphasis on small and mid-sized businesses and institutions. The company has rapidly established its national presence through acquisition, integration and growth of local and regional Internet providers that together currently serve 33 of the top 50 U.S. markets. For more information on Verio, visit the company's Web site at www.verio.net or call 888/GET-VERIO.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the SEC, specifically the most recent reports on Form 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule, volatility of stock price, financial risk management and future growth subject to risks.
The Qwest logo is a registered trademark of Qwest Communications International Inc. in the U.S. and certain other countries
CONTACT: Qwest Corporate Contact
Qwest Communications
Diane Reberger, 303/291-1662
dreberge@qwest.net
qwest.net
or
Qwest Investor Contact
Qwest Communications
Lee Wolfe, 800/567-7296
lwolfe@qwest.net
qwest.net
or
Qwest Media Contact
Alexander Communications
Erin McKelvey, 303/615-5070
alexander-pr.com
emckelvey@alexander-pr.com
or
Verio Inc. Corporate and Media Contact:
Clarus Public Relations
Steven Silvers, 303/296-0343
ssilvers@claruspr.com
or
Verio Inc. Investor Contact:
Verio Inc.
Whitney Fogt, 303/645-1900
wfogt@verio.net
www.verio.net
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