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Northern Telecom Limited to Become Nortel Networks Corporation
CEO Says Legal Name Change Reflects Company's
Commitment to Building A Better Internet
TORONTO, March 11 /PRNewswire/ - Northern Telecom Limited (NYSE: NT/TSE: NTL) announced today that, subject to shareholder approval, the legal name of the corporation will change to Nortel Networks Corporation to better identify the company with its positioning as a provider of integrated network solutions spanning data and telephony.
Shareholders will consider the name change at the corporation's meeting of shareholders on April 29, 1999. The name change follows the introduction of the ''Nortel Networks'' brand name, logo, and visual identity in September 1998, after the acquisition of Bay Networks, Inc.
The name change reinforces that we're a company that delivers a broad and growing portfolio of integrated network solutions spanning data and telephony,'' said John Roth, vice chairman and chief executive officer. ''The use of the Nortel Networks brand name better defines for our customers, employees, and investors our market position in the new era of networking being shaped by the Internet revolution. It better defines us as a network solutions company right at the heart of the Internet revolution. As a company, we're committed to working with our customers and partners to build a better Internet that has telecommunications as its foundation and driving force. You could say that telecom is the 'killer application' of the Internet.''
The Internet revolution is driving fundamental change in global society and defining a new economic model for doing business. It's creating a new era of networking in which the traditional boundaries dividing data and telephony networks are blurring. Service providers and enterprises increasingly require high performance networks that bring together a range of capabilities.
With its unparalleled capability to deliver Unified Network solutions, Nortel Networks is uniquely positioned in the industry.
Roth outlined four categories of the company's Internet solutions strategy: Internet Telephony; Wireless Internet; Intranet Services and Optical Internet.
Internet Telephony solutions, delivered to traditional carriers, represents the coming together of the Internet and global telecom networks and services. Wireless Internet solutions for wireless network operators bring together the advantages of the wireline Internet and mobility. Intranet Services represent the coming together of corporate networks and the Internet, enabling new business models and applications. The Optical Internet describes the coming together of telecom and Internet technologies to deliver speed, reliability, capacity, and new economics for the Internet revolution. The Internet revolution is being driven by innovative, new telecom applications.
Delivering these categories of integrated network solutions to a growing yet complementary base of customers worldwide puts us at the heart of the coming together of telecommunications and the Internet,'' Roth added, ''We have a real-world perspective based on the fact our industry-leading optical networks already carry 75 percent of all North American Internet traffic. We're a leader in Internet telephony and mobility, and we have the most complete access portfolio in the industry. When people think of the Internet, the Nortel Networks name should immediately come to mind.'' |
