I wonder whether INTC will use OMKT's Transact as the E-Commerce infrastructure.
Intel Agrees to Invest $200 Million in Williams Communications; Williams Communications to Provide Network Transport for Intel
Internet Data Services
PR Newswire - May 25, 1999 16:22
TULSA, Okla., May 25 /PRNewswire/ -- Williams Communications, Inc., a subsidiary of Williams (NYSE: WMB), and Intel have signed an agreement for Intel to purchase $200 million in Williams Communications stock. Williams Communications will become a provider of network transport for Web-hosting computer centers in the U.S. being constructed by Intel's new Internet Data Services business.
Intel's private investment in the Class A common stock of Williams Communications Group, Inc., is expected to occur simultaneously with Williams' previously announced initial public offering for Williams Communications. Both the agreement to purchase stock and the agreement to provide services are subject to certain closing conditions, including normal regulatory approval for the stock purchase. The Intel investment will be used by Williams Communications in its business.
In addition to high-capacity network transport linking Intel Internet Data Services facilities, Williams Communications' Multi-Service Broadband Network(TM) may also be a provider of Internet Protocol transit services for Intel Internet data centers.
The new Intel Internet Data Services business will build and operate a network of large-scale data centers which will offer wholesale and resale Web-based hosting and applications.
"We believe that the investment from Intel and the agreement with Intel Internet Data Services to purchase our fiber optic network services is a key milestone for Williams Communications," said Howard Janzen, president and chief executive officer of Williams Communications. "We look forward to working with Intel to provide high-speed, reliable service for their web-hosting business."
"This agreement with Williams Communications is an important step as we assemble the infrastructure elements needed for the web-hosting services that will be provided by Intel Internet Data Services," said Mike Aymar, vice president and general manager of Intel Internet Data Services. "We look forward to developing this long-term relationship with Williams."
About Williams
Since re-entering the network business last year, Williams Communications has focused on providing carrier network services such as Internet Protocol transport. Williams Communications' fiber-optic network is one of the four largest long-distance networks in the U.S. Its facilities serve 50 of the top U.S. market segments, expanding to reach 125 cities nationwide with a 32,000-mile network next year.
Williams, through its subsidiaries, provides a full range of communications and energy services. Williams Communications owns and operates a nationwide fiber-optic network, sells, installs and maintains communications equipment and provides other services throughout the United States and Canada. Williams information is available at www.williams.com .
All trademarks are the property of their respective owners. Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.
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