TeraGLOBAL Communications Corp. (TGCC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : TeraGLOBAL Communications Corp. (TGCC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TheSlowLane who wrote (130)	1/23/1999 5:18:00 PM
From: flickerful	Read Replies (2) of 235

paul... i have similar feelings about lucent's apparent entry.... more news of some relevance [ apologies if you've already seen it ]: Tuesday January 19, 8:38 pm Eastern Time Intel and PictureTel Provide Further Details Regarding Investment SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 19, 1999--Earlier today Intel Corporation [Nasdaq:INTC - news] and PictureTel Corporation (Nasdaq:PCTL - news) announced that they have entered into a distribution and joint product development agreement to accelerate growth of videoconferencing worldwide. It was also announced that Intel would invest $30.5 million in PictureTel. In connection with the investment, Intel and PictureTel entered into an agreement pursuant to which Intel would make a $30.5 million investment for nonvoting Series A convertible preferred stock, comprising approximately 10 percent of PictureTel's outstanding equity after the investment. The preferred stock is convertible into PictureTel common stock on a one-for-one basis. The closing of the transaction is subject to customary closing conditions, including the completion of due diligence to Intel's satisfaction. The transaction is expected to close on or before Feb. 17, 1999. PictureTel Corporation is the world leader in developing, manufacturing and marketing a full range of visual- and audio-collaboration solutions. The company's systems meet customers' collaboration needs from the desktop to the boardroom. PictureTel also markets network conferencing servers and a comprehensive portfolio of enterprisewide services. PictureTel collaboration products and services eliminate the barrier of distance, enabling people to be Anywhere Now™. Additional PictureTel information is available on the Internet at www.picturetel.com. Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next